Hexaware Leapfrogs its Customer Experience Transformation Business With the Acquisition of Mobiquity Inc.

This is the largest ever investment by Hexaware and the combined entity aims to directly compete with large digital agencies and consulting firms

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Hexaware Technologies Ltd.

Jun 14, 2019, 07:00 ET

MUMBAI, India, June 14, 2019 /PRNewswire/ -- Hexaware Technologies Ltd, one of India's fastest growing IT Consulting firms, today announced the acquisition of Mobiquity Inc for a total consideration of ~ $182 million. Mobiquity creates awesome digital products for some of the most well-known brands in the world, such as Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka.

Hexaware leapfrogs its business with new acquisition

Headquartered in the US, and with a global presence across 3 continents, Mobiquity is one of the largest independent customer experience consulting firms that specializes in creating frictionless multi-channel digital experiences using cloud technologies. They are one of the very few Digital Customer Experience Consulting Partners for AWS and are experts at leveraging some of the most sophisticated capabilities of AWS.

R Srikrishna, CEO, Hexaware Technologies said, "Hexaware enters an exciting new phase of growth and capability with the acquisition of Mobiquity Inc. 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. Both Hexaware and Mobiquity have created very strong impact for their clients and have a mutually complementing position. Our combined capabilities will enhance our market positioning and opportunity to make an impact for our clients."

Sandeep Dhar, President, Customer Experience Transformation (CXT) Business, Hexaware Technologies added, "Over the years Mobiquity Inc. has established a benchmark in defining omnichannel digital experiences and next-gen user interfaces, such as smart speakers and digital assistants. Their methodology combines consulting, design and deep engineering capabilities that leverage the Cloud. At Hexaware, we have been building capabilities in digital engineering, marketing & content platforms, e-commerce and CRM. Together we will now offer a comprehensive suite of digital solutions enabling superlative customer experiences. Mobiquity Inc.'s leadership and teams will continue without any changes to structure or ways of working."

John Castleman, CEO of Mobiquity Inc. says he is excited about the growth prospects. "Today we start a bold new chapter in Mobiquity's growth story. Joining hands with Hexaware gives us added scale, a broader portfolio of offerings that are relevant to our clients' digital journeys, and the opportunity to strengthen the Mobiquity brand."

Mobiquity adds to Hexaware's global delivery footprint with its centers in Florida, Boston, Philadelphia, New York, Amsterdam, Pune and Ahmedabad.

Advisors

Skadden, Arps, Slate, Meagher & Flom LLP; Houthoff Cooperatief U.A. and J. Sagar Associates acted as the legal advisors to Hexaware.

CG Petsky Prunier, part of the Canaccord Genuity Group, served as the exclusive financial advisor to Mobiquity Inc.

About Mobiquity

Mobiquity is a digital consultancy that partners with the world's leading brands to design and deliver compelling digital products and services for their customers.
To learn more, visit https://www.mobiquityinc.com.

About Hexaware
Learn more about Hexaware at www.hexaware.com

Safe Harbor Statement
http://hexaware.com/investors/

Media contact:
Sreedatri Chatterjee
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Leah Patterson
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SOURCE Hexaware Technologies Ltd.