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

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.