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ExlService Holdings discloses purchase consideration in Health Integrated deal

ExlService Holdings Inc. in a regulatory filing disclosed financial terms related to its recently closed acquisition of substantially all of the assets of Tampa, Fla.-based Health Integrated Inc.

ExlService said the purchase consideration consisted of $22 million in cash, subject to a customary working capital adjustment, and the ability for Health Integrated to earn up to $5 million in cash as an earn-out based on the achievement of certain performance goals.

A portion of the purchase consideration otherwise payable was placed into escrow as security for the post-closing working capital adjustments and the indemnification obligations under the acquisition agreement.

The purchase price was paid with a combination of cash on hand and borrowings from its credit facility, ExlService said.