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EXL to acquire SCIO in $240 mn deal

Press Trust of India  |  New Delhi 

and analytics company today said it will acquire SCIOInspire Holdings, Inc as part of a USD 240 million deal.

Both and SCIO have operations in

"The aggregate merger consideration is USD 240 million, subject to adjustment based on, among other things, SCIO's cash, debt, working capital position and other adjustments set forth in the merger agreement," said in a statement.

EXL intends to fund the purchase with available cash on hand and borrowing from its credit facility, it added.

The acquisition is expected to close in the next three months, subject to the fulfilment of certain closing conditions, including regulatory and other customary consents.

SCIO is a Connecticut-based leading and services company. It serves over 100 and has more than 1,100 professionals in locations across the US, the UK and

"SCIO's and expertise in and care optimisation expands EXL's market-leading advanced analytics and healthcare capabilities," EXL said.

He added that combining SCIO's workforce to its own team of over 2,000 clinicians and more than 3,000 data scientists worldwide "significantly increases our ability to scale to meet the needs of larger clients and increases our reach into pharmacy benefit managers, and life sciences companies".

TripleTree, served as the to SCIO in the transaction.

Headquartered in New York, EXL has more than 27,000 professionals in locations throughout the US, India, Philippines, and among others.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 01 2018. 19:51 IST
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