Exlservice Holdings, Inc. acquired Overland Solutions, Inc. from New Mountain Capital, LLC and New Mountain Partners, L.P. for $53 million.
October 30, 2014 at 12:00 am EDT
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Exlservice Holdings, Inc. (NasdaqGS:EXLS) acquired Overland Solutions, Inc. from New Mountain Capital, LLC and New Mountain Partners, L.P. for $53 million in cash on October 24, 2014. The merger consideration was funded from existing cash resources. The transaction was approved by the Board of Directors of Exlservice Holdings and Overland Solutions. The merger is subject to the approval of Overland Solutions' shareholders. The transaction is expected to be immediately accretive to adjusted EPS and contribute approximately $10 million of revenue in the fourth quarter. Evercore Partners Inc. acted as financial advisor for Overland Solutions, Inc. Rashida K. La Lande of Gibson, Dunn & Crutcher LLP acted as the legal advisor to New Mountain Partners, L.P. Valérie Demont of Pepper Hamilton LLP acted as the legal advisor to Exlservice Holdings, Inc. JPMorgan Chase Bank, N.A. acted as the escrow agent in the transaction.
Exlservice Holdings, Inc. (NasdaqGS:EXLS) completed the acquisition of Overland Solutions, Inc. from New Mountain Capital, LLC and New Mountain Partners, L.P. on October 24, 2014.
ExlService Holdings, Inc. is a data analytics and digital operations and solutions company. The Company partners with clients using a data and artificial intelligence (AI)-led approach. The Companyâs segments include Insurance, Healthcare, Analytics and Emerging Business. Insurance segment serves property and casualty insurance, life insurance, disability insurance, insurance brokers, reinsurers, annuity and retirement services and insurance technology companies. Healthcare segment primarily serves United States-based healthcare payers, providers and pharmacy benefit managers organizations. Emerging Business segment provides data and AI-led enterprise solutions in the areas of finance and accounting, customer experience management and revenue enhancement to clients primarily in the banking and capital markets, utilities, retail and consumer packaged goods, technology, media, and telecom, travel and leisure, manufacturing, transportation and logistics and business services industries.