21 Jul 2019 | 11:22 PM

News

COMPANYNEWS
Hexaware acquires Mobiquity Inc of USA for USD 182 million
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Published on 06-14-2019
IT consulting firm Hexaware Technologies Ltd. said in a filing to BSE that the acquisition of Mobiquity Inc for a total consideration of approx USD 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 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."


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 ecommerce 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.