Date:07/11/2009 URL: http://www.thehindubusinessline.com/2009/11/07/stories/2009110751640402.htm

Back EXL bags American Express deal

New Delhi, Nov. 6

NASDAQ-listed BPO major ExlService Holdings on Friday announced the acquisition of back office operations of American Express Business Travel in Gurgaon, for $30 million. EXL has also bagged an eightyear contract to provide business process services to American Express. EXL said it expects to achieve over $160 million in revenues over the life of this contract. "We are pleased to announce a new eight-year agreement to service the back-office operations of American Express Business Travel and the associated acquisition of American Express' Global Travel Service Center operations in Gurgaon. Through this transaction, we will deepen our relationship with one of our key clients as well as expand our capability set in analytics, exception processing, and transaction processing," Mr Rohit Kapoor, EXL President and CEO said.

The company expects the transaction to close first quarter next year. "This acquisition also adds an experienced management team and an additional delivery center to EXL," he said.

It may be recalled that in 2008 WNS had announced the acquisition of UK insurance major Aviva's BPO business - Aviva Global Services (AGS) for about$ 228 million. The Master Services Agreement tagged with the deal included an eight year contract for WNS to provide BPO services to Aviva's UK and Canadian operation.

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