EXL Signs MoU With Carvajal To Form Latin America JV For Operations Management

(RTTNews) - ExlService Holdings, Inc.(EXLS), a business process solutions company, Tuesday announced that it has signed a non-binding memorandum of understanding with Carvajal Tecnologia y Servicios or CT&S, a subsidiary of Carvajal S.A to establish a joint venture in Latin America.

The joint venture would address the growing demand for Spanish language-based operations management solutions delivered from Latin America. The solutions provided will include finance and accounting, complex customer services and clinical services.

CT&S is expected to contribute its existing Finance & Accounting Outsourcing operations, Carvajal Servicios, to the joint venture, in which EXL will acquire a 51 percent stake.

The company said the joint venture is intended to combine CT&S' local knowledge and brand with EXL's business process expertise.

The joint venture is expected to be headquartered in Cali, Colombia, and launch with over 500 skilled and experienced employees.

EXL added that both companies intend to enter into one or more definitive agreements to effectuate the terms of the memorandum of understanding.