eClerx Services Ltd. has acquired Agilyst Inc. through its overseas subsidiary eClerx Investments Ltd.
Amarchand Mangaldas, Indian Legal Advisor, eClerx Services said, "Agilyst Inc. will operate as a fully-owned subsidiary of eClerx. The transaction will be funded from eClerx's internal resources and there is no intention to raise any incremental capital. The deal value is confidential."
Avendus Capital served as the financial and strategic advisor to eClerx on the transaction while MAPE Advisory Group served in the same capacity for Agilyst. Agilyst's management team is expected to continue to manage day-to-day operations. The consideration for the acquisition is believed to be all cash and includes a substantial earn out component based on Agilyst's future performance.
