Hexaware acquires Mobiquity to Power Digital Transformation with Cloud

Hexaware Technologies Ltd recently announced the acquisition of Mobiquity Inc for a total sum of $182 million.

Hexaware, an Indian IT consulting firms previously acquired a company called Focusframe in 2006. Mobiquity is the Hexaware's second acquisition. Hexaware employes over 16,500 people across 33 offices in the Americas, EMEA and APAC, centres its company strategy around Automation, Cloud and Customer Experience Transformation (CXT).

Founded in 2011, Boston based Mobiquity is also a digital consultancy firm spread across three countries with nice offices. Previously, Mobiquity raised around USD $42.2M investments in seven funding rounds, according to CrunchBase. The company designs and delivers compelling digital products and services for their customers. Some of the partnerships of Mobiquity are with Amazon Web Services (AWS), Rabobank, Philips, Wawa, Backbase and Otsuka.

Executive Opinion

CEO of Hexaware Technologies, R Srikrishna 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."

CEO of Mobiquity Inc, John Castleman says that he is excited about the growth prospects. He said "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."

More on Aquisition

With Mobiquity's acquisition, Hexaware expands its global delivery footprint to Florida, Boston, Philadelphia, New York, Amsterdam, Pune and Ahmedabad. The company's leadership and teams will continue without any changes to the structure, says the announcement.

Mobiquity''s methodology leverages cloud technologies in their consulting, design and deep engineering capabilities.  The announcement noted that Hexaware has been building capabilities in digital engineering, marketing & content platforms, e-commerce and CRM. The acquisition will create new cross-selling and up-selling opportunities in digital solutions and services for Hexaware.

Hexaware’s legal advisors were Skadden, Arps, Slate, Meagher & Flom LLP; Houthoff Cooperatief U.A. and J. Sagar Associates. Mobiquity’s exclusive financial advisors were CG Petsky Prunier, part of the Canaccord Genuity Group.