Big tech acquisition: Hexaware buys US-based Mobiquity for $ 182 million – The Financial Express
Says Mobiquity’s leadership and teams will continue without any changes to structure or ways of working.
IT company Hexaware Technologies on Friday announced the acquisition of Mobiquity Inc for a total consideration of $182 million. Mobiquity creates digital products for brands like Amazon Web Services (AWS), Rabobank, Philips, Wawa, Backbase and Otsuka.
Headquartered in the United States and with a global presence across three continents, Mobiquity is an independent customer experience consulting firm that specialises in creating multi-channel digital experiences using cloud technologies. They are a digital customer experience consulting partner for AWS and leverage some advanced capabilities of AWS.
Sandeep Dhar, president, customer experience transformation (CXT) business, Hexaware Technologies, told FE that the acquisition will definitely benefit the company in terms of growth but it will be more pronounced in healthcare and insurance.
“The acquisition is unlikely to have much impact in our BFS category as we’re stronger on this vertical than Mobiquity. But on the healthcare side, the mix will improve because what we have from a healthcare and insurance perspective, as a percentage of the overall business, Mobiquity has a share which is significantly higher compared to us. When we have the full year numbers from Mobiquity included, the mix of healthcare and insurance verticals overall, Hexaware and Mobiquity put together will improve the revenue mix significantly,” he said.
R Srikrishna, CEO, Hexaware Technologies, also told FE, “We have said that in the next three years, we’ll be putting $250—$300 million in acquisitions. Through this acquisition, we’ve been able to touch upon both ‘customer experience and transformation’ space and ‘Cloudify everything space’.”
Hexaware also said that Mobiquity’s leadership and teams will continue without any changes to structure or ways of working.
Mobiquity also adds to Hexaware’s global delivery footprint with its centres in Florida, Boston, Philadelphia, New York, Amsterdam, Pune and Ahmedabad.
John Castleman, CEO of Mobiquity, 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.”
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Source: Financial Express