EXL completes iMerit acquisition

ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, announced on August 3, 2026, that it has completed the acquisition of iMerit, a leader in AI model training, evaluation, and reinforcement learning. The acquisition creates an end-to-end AI platform for enterprises, combining EXL's data and AI expertise with iMerit's technology and expert-led solutions. 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. EXL's chairman and CEO Sumit Kapoor called the acquisition a transformational pivot that deepens EXL's vertically specialized AI capabilities and expands its reach into high-growth AI technology sectors. The deal is expected to help clients build, fine-tune, and operationalize AI reliably in production, especially in regulated industries where domain knowledge and compliance are critical.