EXL to acquire California-based iMerit for $310 million with $170 million upfront

Business Jun 24, 2026

EXL, a major player in AI and data services, just announced it is acquiring California-based iMerit for $310 million.
The deal includes $170 million upfront and up to $140 million more if iMerit hits certain goals over the next two years.
This move is all about boosting EXL's spot in the fast-growing world of AI.

iMerit's Ango platform joins EXL

iMerit, founded by Radha Basu in 2012, is known for training and evaluating advanced AI models: think computer vision and foundation models.
Its Ango data platform will now be part of EXL's toolkit, helping clients go from testing AI ideas to actually using them at scale.
Both companies are big on high-quality data; as Basu puts it, that is key to making AI work well.
The deal is expected to close in the third quarter of 2026.