EXL buys Schneider’s back-office unit in Eastern Europe
SOURCE: EconomicTimes
Date: July 9th, 2009
This is another example of a sale of a captive unit by the parent firm to a third party vendor. Most of the last few sales have been within India. The other one which is rumored to be up for sale as a package is the UBS centers in India and Poland. Citi is also in talks with a number of vendors to sell parts of their IT operations in India. Running and building captives is fast fading as the model of choice for corporates.
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ExlService Holdings (EXL) is acquiring the back-office unit of US-based logistics firm Schneider National in Czech
Republic. The deal size is learnt to be less than $40 million. When contacted , EXL chief executive Rohit Kapoor declined to comment.
The back-office unit in Czech Republic , which employs about 200 people, is managed by Schneider Logistics, the transportation and logistics services arm of the $3.7-billion Schneider National. The unit provides finance and accounting services to logistics firms in Europe in multiple languages such as English, German , French, Italian and Spanish.
