EXL Completes $310M iMerit Acquisition to Accelerate Enterprise AI Leadership

EXL completes acquisition of iMerit, accelerating enterprise AI leadership

iMerit founder and CEO Radha Ramaswami Basu joins EXL executive committee ExlService Holdings, Inc. announced it has completed the acquisition of iMerit, a recognized leader in AI model training, evaluation and reinforcement learning. Together, EXL's enterprise data and AI leadership and iMerit's capabilities and foundation model relationships will help clients build AI systems that are trusted, accountable and built to perform in the enterprise. The completion of the acquisition establishes an end-to-end AI platform for enterprises, uniting EXL's deep data, context and AI expertise with iMerit's technology, expert-led solutions and generative AI experience helping them accelerate the transition from pilot to production-scale AI. As part of the transaction, iMerit founder and CEO Radha Ramaswami Basu joins EXL as Executive Vice President, Head of iMerit, and becomes a member of the company's executive committee. "This acquisition is a transformational pivot for EXL, deepening our vertically specialized AI capabilities and expanding our reach into high-growth AI technology sectors," said Rohit Kapoor, chairman and chief executive officer of EXL. "By combining iMerit's capabilities with EXL's domain expertise and AI platforms, we are well positioned to help clients build, fine-tune and operationalize AI that performs reliably in production. This is especially critical in regulated industries where domain knowledge, context and compliance are non-negotiable. I am delighted to welcome Radha to EXL's executive committee; her vision, leadership, and deep expertise at the intersection of human intelligence and AI will help shape the next chapter of EXL's growth and innovation." "The next generation of enterprise AI will be defined not by the models organizations choose, but by how effectively they can deploy them in real-world business environments," said Basu. "What excites me most about joining EXL is the opportunity to combine iMerit's pioneering work in AI data, evaluation and human intelligence with EXL's extraordinary depth in data, AI and enterprise transformation. Together, we can help clients bridge the gap between innovation and execution, turning AI potential into measurable business results. I am energized by what lies ahead and honored to join EXL's executive committee as we help clients unlock the full value in enterprise AI integration." With iMerit now part of EXL, the combination extends the data and AI-led strategy EXL has been executing on for several years.

EXL completes acquisition of AI training firm iMerit By Investing.com

NEW YORK - ExlService Holdings, Inc. (NASDAQ:EXLS) announced today it has completed its acquisition of iMerit, a company specializing in AI model training, evaluation and reinforcement learning. The transaction combines EXL's data and AI services with iMerit's technology and generative AI capabilities. iMerit founder and CEO Radha Ramaswami Basu joins EXL as Executive Vice President, Head of iMerit, and becomes a member of the company's executive committee. "This acquisition is a transformational pivot for EXL, deepening our vertically specialized AI capabilities and expanding our reach into high-growth AI technology sectors," said Rohit Kapoor, chairman and chief executive officer of EXL. iMerit provides AI fine tuning, evaluation and reinforcement learning services to AI labs and enterprises. The company operates Scholars, a global network of specialists including physicians, scientists, engineers and linguists who work on data creation and model alignment. iMerit also offers its Ango Hub platform for multimodal data collaboration. EXL provides data and AI services to corporations in industries including insurance, healthcare, banking, retail, communications and energy. The company was founded in 1999 and is headquartered in New York with approximately 68,000 employees across six continents. The information is based on a press release statement from EXL. Financial terms of the acquisition were not disclosed. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

ExlService Holdings, Inc. acquired I Merit, Inc.

ExlService Holdings, Inc. (NasdaqGS:EXLS) agreed to acquire I Merit, Inc. for $310 million on June 22, 2026. A cash consideration of $170 million will be paid by ExlService Holdings, Inc. ExlService Holdings, Inc. will pay an earnout/contingent payment of $140 million cash. By acquiring iMerit, EXL gains direct relationships with major AI foundation model builders, access to iMerit's Ango platform for model evaluation, and a network of subject matter experts Scholars. This move is designed to help EXL's clients better implement enterprise-grade AI solutions. iMerit Technology Chief Executive Officer, Radha Basu, and her talented team joining to ExlService Holdings, Inc. As of March 31, 2026 Revenue of iMerit Technology is approximately $59 million. The transaction is expected to close in the third quarter of this year, subject to customary closing conditions, including expiration or termination of the waiting period for applicable antitrust regulations. Avendus Capital, Inc. acted as a Financial advisor for I Merit, Inc. Th team of Trilegal led by Abhishek Guha, Tanya Uppal, Apeksha Mattoo, Monika Bhonsale, Gauri Chhabra, Kirti Balasubramanian and Jishnu Sanyal acted as legal advisor for I Merit, Inc. ExlService Holdings, Inc. (NasdaqGS:EXLS) completed the acquisition of I Merit, Inc. on August 3, 2026. As part of the transaction, iMerit founder and CEO Radha Ramaswami Basu joins EXL as Executive Vice President, Head of iMerit, and becomes a member of the company?s executive committee.