EXL closes an iMerit deal worth up to $310M

EXL completed its iMerit acquisition after agreeing to $170 million upfront plus as much as $140 million in incentives and earnouts, terms recorded in EXL’s SEC filing. The closing announcement combines EXL’s enterprise data operation with iMerit’s specialist network for model training, evaluation, reinforcement learning, and human feedback—a services layer adjacent to the enterprise deployment-company strategy. Builders in regulated domains should note the bet: expert-curated evaluation data is being valued as production infrastructure, not disposable labeling work.