Business process solutions company EXL has acquired Overland Solutions Inc., an Overland Park, Kan.-based provider of underwriting support services including premium audit, commercial and residential underwriting surveys and outsourced loss control services for the insurance industry.
Overland’s audit segment provides critical information on risk and exposures for carriers and their regulators. The survey segment works with residential and commercial underwriters and managing general agents to understand underwriting risks, identify loss prevention opportunities and survey individual properties for replacement cost valuations.
The merger consideration of $53 million in cash was funded from existing cash resources on EXL’s balance sheet, the company said. The transaction is expected to be immediately accretive to adjusted EPS and contribute approximately $10 million of revenue in the fourth quarter.
In business since 1999, EXL is headquartered in New York.
Source: EXL
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