14 Jun 2019
4 MINS READ
This is the largest ever investment by Hexaware and the combined entity aims to directly compete with large digital agencies and consulting firms
Mumbai, 14 June 2019: 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.
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™, TRANSFORM CUSTOMER EXPERIENCES™. 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.
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.
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. Its approach balances human needs with usefully applied technology, unbound creativity with research and analytics, and agile development with strict engineering and security standards. Mobiquity’s end-to-end services consider every dimension of a digital business from marketing to IT, providing strategy, experience design, product engineering, cloud services and analytics. Mobiquity is an AWS Partner Network (APN) Premier Consulting Partner and has worked with AWS since 2011 to deliver 100% cloud-based innovation to its clients. Mobiquity also has a strategic partnership with Backbase, in both product engineering and in implementation services, to provide digital solutions for retail banking companies across the world.
To learn more, visit https://www.mobiquityinc.com
Hexaware is a fast growing next-generation provider of IT, BPO and consulting services. Our focus lies on taking a leadership position in helping our clients attain customer intimacy as their competitive advantage. Our digital offerings have helped our clients achieve operational excellence and customer delight by ‘powering man machine collaboration.’ We are now on a journey of metamorphosing the experiences of our customer’s customers by leveraging our industry-leading delivery and execution model built around the strategy— AUTOMATE EVERYTHING™, CLOUDIFY EVERYTHING™, TRANSFORM CUSTOMER EXPERIENCES™.
We serve customers in banking, financial services, capital markets, healthcare, insurance, manufacturing,retail, education, telecom, professional services (tax, audit, accounting and legal), travel, transportation and logistics. We deliver highly evolved services in rapid application prototyping, development and deployment; build, migrate and run cloud solutions; automation-based application support; enterprise solutions for digitizing the back-office; customer experience transformation; business intelligence and analytics; digital assurance (testing); infrastructure management services and business process services. Hexaware services customers around the world in over two dozen languages. Our goal is to be the first IT services company in the world to have a 50% digital workforce.
Learn more about Hexaware at https://www.hexaware.com
Certain statements in this press release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.
For more information contact:
Hexaware Technologies Limited
Tel: +91 900 426 3405
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