IT firm Hexaware on Friday said it has acquired US-based Mobiquity Inc for a total consideration of about $182 mn (approximately Rs 1,266 crore).
R Srikrishna, CEO of Hexaware Technologies, said with this acquisition, Hexaware enters an exciting new phase of growth and capability. “Mobiquity strengthens two of our key strategic offerings: Cloudify Everything and Customer Experience Transformation. We are seeing a strong demand for these capabilities and, with this acquisition, we will be able to further accelerate our contributions to our customers’ business growth,” he added. Under the cash deal, Hexaware will make an upfront pay out of up to $131 mn and a deferred consideration of up to $51 mn, part of which is contingent on earnouts, it said in a regulatory filing.
This acquisition would help gain traction in banking and pharma verticals, the focus areas for Hexaware.