Hexaware Technologies Pvt Ltd, which is an IT services firm majority owned by Baring Private Equity Asia, has acquired the American digital consultancy Mobiquity Inc, for around $182 Million in cash to boost up its automation and cloud capabilities.
The deal also involved an upfront payment of around $131 Million and with a deferred payment of $51 Million, according to the report.
Hexaware joins bigger IT peers such as the HCL Technologies and Wipro Ltd in acquiring the US companies to boost its digital capabilities. Wipro agreed to buy the US engineering services firm International TechneGroup Inc for around $45 Million while HCL inked a pact to acquire the US-based Strong-Bridge Envision in the march for an equal amount.
Mobiquity is a privately held customer experience consulting firm that is having its specializes in creating the multi-channel digital experiences with the cloud technologies. It creates digital products for well-known brands such as the Robobank, Amazon Web Services, and Philips.
“Mobiquity strengthens two of our key strategic offerings: Cloudify Everything and Customer Experience Transformation,” said Hexaware chief executive R Srikrishna. “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.”Hexaware said Mobiquity’s leadership and teams, led by CEO John Castleman, will continue without any changes to structure or ways of working.