Hexaware acquires cloud technologies company Mobiquity

Leading software company Hexaware has acquired Mumbai-based digital consultancy company Mobiquity for consideration of approximately US$182 million.

As part of the deal Hexaware Technologies Inc., acquires 100 per cent shares of Mobiquity Inc. and Hexaware Technologies Limited acquired 100 per cent shares of Mobiquity Softech Private Limited. Hexaware Technologies Inc. is a wholly-owned subsidiary of Hexaware Technologies Limited. Hexaware has business operations in information technology and business process outsourcing service provider. The company is based out in Navi Mumbai, Maharashtra.

Mobiquity Softech Private Limited is a wholly-owned subsidiary of Mobiquity Inc. which is involved in digital consultancy and along with designing and delivering compelling digital products and services to consumers. Mobiquity is headquartered in the US.

For sometime, consumers of Hexaware Technologies showed a strong demand for two of Hexaware’s key strategic offerings being Cloudify Everything and Customer Experience Transformation. Benefitting from the acquisition, the companies can together to create a digital solutions. Hexaware Technologies made an upfront cash payment for the acquisition having a total consideration of US$182 million.

On Friday, the stock of Hexaware Technologies Ltd. closed at Rs. 344.65 per share, a decrease of 0.38 per cent or Rs. 1.30 than its previous close. The 52-week high is Rs. 557.40 and 52-week low is Rs. 294.80.