eClerx Services agrees to purchase RegEdge LLC

eClerx Services has signed a definitive agreement to acquire the Delaware-based entity RegEdge LLC. The company will pay an aggregate consideration of up to $12 million for the purchase through its wholly owned subsidiary, eClerx LLC. This move marks a strategic expansion for the business process management firm into specialized financial compliance and reporting services.

The acquisition agreement covers the purchase of membership interests in RegEdge LLC. eClerx Services expects to finalize the transaction within 2 weeks, provided that all specified closing conditions are met by the involved parties.

This purchase aims to strengthen the service portfolio of eClerx Services within the financial sector. Specifically, the company intends to enhance its capabilities in trade and transaction reporting, surveillance, and financial crime compliance. It also plans to expand its expertise in managing regulatory change for its global client base. eClerx Services currently provides automation, analytics, and business process management solutions to various industries, including technology, retail, and media.

Based on company and agency reports. For information only; not investment advice.