Fremont: New York based eClerx Services, a knowledge process outsourcing and business process outsourcing services firm, has acquired 100 percent stake of Agilyst Inc, a closely held U.S. based KPO company, through its overseas subsidiary eClerx Investment.
Avendus Capital served as the financial and strategic advisor to eClerx on the transaction while MAPE Advisory Group served in the same capacity for Agilyst.
The consideration for the acquisition will be all cash and include a substantial earn out component based on Agilyst’s future performance. The transaction will be funded from eClerx’s internal resources without an intention to raise any incremental capital.
Founded in 2007 by Mahesh Dhillon, Agilyst is a back office operational and analytics company focused in the North American media industry. Its services include critical error identification, customer experience analysis and end user support services. Agilyst employees around 1,000 people and is expected to generate just under $10 million in revenues for the fiscal year 2012 and is profitable.
Prior to founding Agilyst, Dillon served in operational leadership positions with Comcast Cable and Comcast Interactive Media. He has also led process improvement and optimization activities, mergers and acquisitions and related post-merger activities and financial and process audits. Dillon has earned his MBA from the University of Chicago, Booth School of Business, an MS in Management of IT from the University of Virginia and is also a licensed Certified Public Accountant.
Post acquisition, Agilyst will operate as a fully owned subsidiary of eClerx and its management team will continue to manage day-to-day operations. The transaction is expected to close in the near future and will be EPS accretive for eClerx.
Founded in 2000, eClerx provides data analytics and customized process solutions to global enterprise clients. It currently employees more than 4,000 people across five delivery centers in India and has sales and marketing offices in London, New York, Austin, Dublin and Singapore.
eClerx believes that Agilyst fits its business focus- non voice data processing business, with a specialized focus on serving large corporate clients; has similar business model and provides a strong foothold in the media industry in the U.S.
