New Delhi, June 24 -- Publicly traded data and AI company EXLService Holdings, Inc. is set to acquire California-based iMerit, a California-based artificial intelligence data company, for $310 million, as the Nasdaq-listed firm bets on rising enterprise demand for AI deployment services.

The deal comprises an upfront payment of $170 million, with as much as $140 million in earnouts tied to milestones over two years, the companies said. The transaction is expected to close in the third quarter of 2026.

EXL plans to bring iMerit's Ango data platform into its existing AI offerings, creating what the company calls an end-to-end system covering data preparation, model evaluation and enterprise-scale deployment. iMerit, founded in 2012 by Rad...