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Subsequent Event
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
Subsequent Event
Subsequent Event

On July 1, 2018, the Company, through its wholly owned subsidiary ExlService.com, LLC, completed the acquisition of SCIOInspire Holdings Inc. (“SCIO”) pursuant to its previously announced Agreement of Merger dated April 28, 2018.
The aggregate purchase consideration for the acquisition was $236,500, subject to certain post-closing adjustments. Immediately prior to the consummation of the merger, certain members of the senior management team of SCIO exchanged approximately $4,080 in shares of SCIO for 69,459 newly-issued shares of restricted common stock of ExlService Holdings in a private exchange.
SCIO is a health analytics solution and services company serving over 100 healthcare organizations representing over 130 million covered lives across the continuum including providers, health plans, PBMs, employers, health services and global life sciences companies. This strategic acquisition is expected to significantly strengthen Company’s strategic focus areas of growth in Payment Integrity and Care Management.
The Company funded the acquisition with $233,000 from the New Credit Facility and remainder from available cash on hand. On July 2, 2018, the Company exercised its option under the New Credit Agreement to increase the commitments by $100,000 thereby utilizing the entire revolver under the New Credit Facility of $300,000, so as to be able to fund the acquisition. The incremental commitments were made pursuant to (and constitute part of) the existing commitments and shall be subject to the terms and conditions applicable to the existing commitments as set forth in the New Credit Agreement.
Due to the closing of this acquisition subsequent to the period end, the Company is currently determining the fair value of assets acquired and liabilities assumed necessary to develop the purchase price allocation. Therefore, disclosure of the purchase price allocation to the tangible and intangible assets acquired and liabilities assumed and supplemental pro forma information is not practicable. The pro forma revenue and earnings of the combined financial results will be included in the Company's Form 10-Q for the quarter ended September 30, 2018.