Hexaware Technologies buys US-based Mobiquity Inc for $182 mn to expand cloud, automation service offerings

Indian IT services company Hexaware Technologies Ltd said on Friday it bought privately owned Mobiquity Inc for $182 million, to expand its cloud and automation service offerings

Reuters June 14, 2019 15:11:28 IST
Hexaware Technologies buys US-based Mobiquity Inc for $182 mn to expand cloud, automation service offerings
  • The deal will help Mumbai-based Hexaware gain traction in its banking and pharmaceutical verticals, through Mobiquity’s digital products

  • Hexaware will pay $131 million upfront to Mobiquity and deferred consideration of $51 million will be paid based on earnouts, the company said

Bengaluru: Indian IT services company Hexaware Technologies Ltd said on Friday it bought privately owned Mobiquity Inc for $182 million, to expand its cloud and automation service offerings.

The deal will help Mumbai-based Hexaware gain traction in its banking and pharmaceutical verticals, through Mobiquity’s digital products.

Hexaware will pay $131 million upfront to Mobiquity and deferred consideration of $51 million will be paid based on earnouts, the company said.

U.S.-based Mobiquity makes products for partners including Amazon’s AWS and Netherlands-headquartered software company Bankbase.

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