Exult was created in 1998 and originally operated under the name of BPO US, Inc. Its business model was based on the premise that big corporations could be persuaded to outsource the most mundane human-resources tasks to outside contractors.
Founded by Jim Madden, who also served as chairman and chief executive officer of Exult, the company experienced rapid growth. Exult was initially funded by private-equity firm General Atlantic Partners.
Exult provided administrative services like payroll and benefits plans, as well as recruiting and learning and development for businesses. The company ran some of these services on intranet technology, called myHR, in which clients' employees could access general data on human resources.
In addition to human resource functions, Exult provided financial process outsourcing solutions options to its clients inclusive of accounts receivable, general ledger and finance, accounts processing, and fixed asset and procurement tools.
Stocks in Exult traded on the NYSE under the symbol (EXLT).
Mergers and acquisitions
In November 1999 Exult acquired Gunn Partners Inc., which retained its brand identity and continued to operate as Exult's consulting division. In February 2002 Answerthink, Inc. purchased the Exult Process Intelligence Center (EPIC), which was founded by Gunn Partners. EPIC then became Hackett Collaborative Learning. In 2004, Exult sold Gunn Partners to Deloitte Consulting.
In June 2003 Exult purchased the international business process outsourcing (BPO) operations of PricewaterhouseCoopers (PwC) for US$17 million, cash. The acquisition added 500 new employees, ownership of PwC's e-procurement tool, and six of PwC's contracts which included Standard Chartered Bank, Equifax in the U.K., Safeway in the U.K., Tibbet & Britten, and Grupo Algar and an airline.
In 2004, Exult announced the acquisition of ReloAction a Pleasanton, California based firm specializing in the relocation of workers for large firms.
Later in 2004, Exult itself was acquired by Hewitt Associates of Lincolnshire, Illinois in an all-stock transaction valued at US$795 million. In 2010 Aon announced the acquisition of Hewitt.
January 12, 2023
exult, this, article, does, cite, sources, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, september, 2010, learn, when, remove, this,. This article does not cite any sources Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Exult Inc news newspapers books scholar JSTOR September 2010 Learn how and when to remove this template message Exult Inc was a company headquartered in Irvine California that provided business services related to Human Resources HR and Business Process Outsourcing BPO Exult Inc TypePublicTraded asNYSE EXLTIndustryBusiness process outsourcingHeadquartersIrvine California U S Exult was created in 1998 and originally operated under the name of BPO US Inc Its business model was based on the premise that big corporations could be persuaded to outsource the most mundane human resources tasks to outside contractors Founded by Jim Madden who also served as chairman and chief executive officer of Exult the company experienced rapid growth Exult was initially funded by private equity firm General Atlantic Partners Exult provided administrative services like payroll and benefits plans as well as recruiting and learning and development for businesses The company ran some of these services on intranet technology called myHR in which clients employees could access general data on human resources In addition to human resource functions Exult provided financial process outsourcing solutions options to its clients inclusive of accounts receivable general ledger and finance accounts processing and fixed asset and procurement tools Operations EditExult s global footprint included operations in the United States the United Kingdom Canada Hong Kong Singapore the Netherlands Poland India and Brazil Client service centers for Exult were located in South Shields England Uberlandia Brazil Memphis Tennessee Houston Texas Charlotte North Carolina Glasgow Scotland Toronto Ontario Canada and Mumbai India Stocks in Exult traded on the NYSE under the symbol EXLT Mergers and acquisitions EditIn November 1999 Exult acquired Gunn Partners Inc which retained its brand identity and continued to operate as Exult s consulting division In February 2002 Answerthink Inc purchased the Exult Process Intelligence Center EPIC which was founded by Gunn Partners EPIC then became Hackett Collaborative Learning In 2004 Exult sold Gunn Partners to Deloitte Consulting In June 2003 Exult purchased the international business process outsourcing BPO operations of PricewaterhouseCoopers PwC for US 17 million cash The acquisition added 500 new employees ownership of PwC s e procurement tool and six of PwC s contracts which included Standard Chartered Bank Equifax in the U K Safeway in the U K Tibbet amp Britten and Grupo Algar and an airline In 2004 Exult announced the acquisition of ReloAction a Pleasanton California based firm specializing in the relocation of workers for large firms Later in 2004 Exult itself was acquired by Hewitt Associates of Lincolnshire Illinois in an all stock transaction valued at US 795 million In 2010 Aon announced the acquisition of Hewitt Retrieved from https en wikipedia org w index php title Exult Inc amp oldid 1130034837, wikipedia, wiki, book, books, library,
