EXL buys American Express Business Travel for $30 million

Submitted by Pankaj Lakhotia on Sat, 11/07/2009 - 20:04

EXL, a leading provider of offshore business process outsourcing solutions, has bought the back office centre of American Express Business Travel (AEBT) for $30 million.

The buyout of American Express' Global Travel Service Center operations in Gurgaon stood at approx $30 million net of working capital adjustments at closure.

The contract will help increase EXL's capabilities in analytics, exception processing and transaction processing.

The business deal, expected to close in the first quarter of next year, will help adding up a management team and a delivery center to BPO firm.

Apart from this, EXL has also signed eight-year agreement to tune-up the back-office operations of American Express Business Travel (AEBT).


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

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Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

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