ExlService Holdings Acquires iMerit in $310 Million Deal for AI Model Training Capabilities
ExlService Holdings (NASDAQ:EXLS) has agreed to acquire iMerit Inc., a specialist in AI model training, evaluation, and reinforcement learning, in a deal valued up to $310 million. The acquisition includes an upfront payment of $170 million at closing with the remaining $140 million contingent on performance milestones over two years. This move aims to enhance ExlService's end-to-end AI offerings for regulated industries.
Tickers: $EXLS
Topics: AI business process management data labeling digital transformation