ExlService Holdings, Inc. (NasdaqGS:EXLS) is looking for M&A. Maurizio Nicolelli, Chief Financial Officer said, "Two, we continue to review M&A opportunities that come before us. The M&A market has obviously slowed as you can read in all the newspapers, but there's still opportunities that come to us. But when we look at M&A, we're still being very opportunistic, selective, right?

So when we look at M&A, there's really 2 real characteristics that we're looking for. It's really the strategic fit, does 1 plus 1 equal 4 going forward? How can we really integrate and strategically drive it with the rest of our business?

But two and most importantly also is valuation. Are we buying it at a reasonable price going forward? And when you look at it in those 2 lens, we've become very opportunistic and selective with M&A, knowing that we're growing the business at a significant rate right now".