EXL, a leading business process solutions company, today announced that it has closed its previously announced acquisition of RPM Direct LLC and RPM Data Solutions, LLC (collectively, “RPM”). The purchase consideration for RPM is $47 million in cash plus contingent cash consideration of up to $23 million and approximately 122,131 shares of restricted stock. The cash consideration of the purchase price was funded by a combination of cash on hand and a drawdown on our existing revolving credit facilities. The acquisition is expected to be accretive to adjusted EPS.
EXL announced that in connection with its acquisition of RPM, it has made employment inducement equity awards to two new non-executive employees. The inducement awards cover an aggregate of approximately 122,131 shares of EXL in the form of restricted stock, and are being made as a material inducement to employees entering into employment with EXL in connection with the acquisition transaction. The new restricted stock awards will vest over a period of four years, subject to such grantee’s continued employment with EXL on the applicable vesting date.
EXL (Nasdaq:EXLS) is a leading business process solutions company that looks deeper to drive business impact through integrated services and industry knowledge. EXL provides operations management, decision analytics and technology platforms to organizations in insurance, healthcare, banking and financial services, utilities, travel, and transportation and logistics, among others. We work as a strategic partner to help our clients streamline business operations, improve corporate finance, manage compliance, create new channels for growth and better adapt to change. Headquartered in New York and in business since 1999, EXL has approximately 23,000 professionals in locations throughout the U.S., Europe and Asia. For more information, visit www.exlservice.com.