Business
EXL Announces $300 million Common Stock Repurchase Authorization
NEW YORK, Nov. 02, 2021 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a leading global analytics and digital solutions company, today
About this update from Exlservice Holdings, Inc.
[{"type":"text","content":"NEW YORK, Nov. 02, 2021 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a leading global analytics and digital solutions company, today announced that its Board of Directors has authorized a $300 million common stock repurchase program, effective as of January 1, 2022. The current buyback program previously announced on December 13, 2019, for the repurchase of up to $200 million of common stock, will be terminated as of December 31, 2021. As of September 30, 2021, approximately $162 million has been repurchased under that plan. The shares may be purchased by the Company on the open market and through private transactions as determined by the Company’s management as market conditions warrant. The Company expects that open market repurchases under the repurchase program will be structured to comply with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, which sets certain restrictions on the method, timing, price and volume of open market stock repurchases. The repurchase program does not require the Company to acquire any specific number of shares, and the Company may discontinue repurchases at any time that management determines additional purchases are not warranted. About ExlService Holdings, Inc.EXL (NASDAQ: EXLS) is a global analytics and digital solutions company that partners with clients to improve business outcomes and unlock growth. Bringing together deep domain expertise with robust data, powerful analytics, cloud, and AI, we create agile, scalable solutions and execute complex operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media, and retail, among others. Focused on driving faster decision-making and transforming operating models, EXL was founded on the core values of innovation, collaboration, excellence, integrity and respect. Headquartered in New York, our team is over 34,000 strong, with more than 50 offices spanning six continents. For more information, visit www.exlservice.com. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and ma...