Sheppard Mullin and Trilegal advised on ExlService Holdings’ USD 310 million acquisition of iMerit.
ExlService Holdings, Inc. (EXL), a global data and artificial intelligence company, has entered into a definitive agreement to acquire iMerit, a recognised leader in AI model training, evaluation and reinforcement learning, for a transaction value of up to USD 310 million.
The acquisition will strengthen EXL’s AI capabilities by expanding its ability to support enterprises in building and deploying next-generation AI solutions, including large language models, multimodal models and fit-for-purpose AI systems.
iMerit is a recognized leader in AI model training, evaluation and reinforcement learning, helping its clients train large language and multimodal models to improve accuracy, precision, and effectiveness. ExlService Holdings, Inc. Is a global data and AI company serving industries including insurance, healthcare, banking and financial services, media, retail, and others.
Sheppard Mullin advised ExlService Holdings, Inc. In connection with the acquisition.
The Sheppard deal team includes Valerie Demont, Matt McCalip, Teresita Acedo, Anushna Das and Claire Jang. Invaluable assistance was provided by Greg Berk, Brandon Buck, Michael Chan, Tracy Chau, Dmitriy Chelnitsky, Brian Egan, Sally Elshihabi, Jonathan Finkel, Melissa Hughes, Sean Kirby, Malika Levarlet, Theodore Mayer, Carolyn Metnick, Jennifer Redmond, Tamar Rosenberg, Isaiah Smith, Niya Tang, Dimitris Vallindas, Michael Weisshar and Daniel Yannuzzi.
Trilegal advised iMerit and its shareholders on the proposed acquisition by ExlService Holdings, Inc.
The Trilegal transaction team was led by Partners Abhishek Guha and Tanya U., with support from Senior Associates Shreya Gokhale and Vijay Kumar Chawla.
The Labour and Employment team was led by Partner Apeksha Mattoo, supported by Senior Associate Maitreya Sharma and Associates Achintya Anupam and Anjali A. R.
The Real Estate team was led by Partner Monika Bhonsale, supported by Senior Associate Uday Shah and Associate Muskan Dadia.
The Competition team was led by Partner Gauri Chhabra.
The Intellectual Property team was led by Partner Kirti Balasubramanian.
The Technology, Media and Telecommunications team was led by Partner Jishnu Sanyal.
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