Stock Watch

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).