Hexaware acquires 100% shares of Mobiquity Softech

This acquisition would help gain traction in banking and Pharma verticals, which are the focus areas for Hexaware.

Jun 14, 2019 03:06 IST India Infoline News Service

Hexaware Technologies
Hexaware, in its filing to the exchanges on Friday, informed that the company has acquired 100% stakes of Mobiquity Softech Private Limited, a wholly owned subsidiary of Mobiquity Inc for a total consideration of ~ $182mn.

This acquisition would help gain traction in banking and Pharma verticals, which are the focus areas for Hexaware. It also brings in valued partnerships particularly with A WS and Backbase, the company said in a press note.

The acquisition has been done at a total consideration up to $182mn with the upfront payout of up to $131mn and deferred consideration up to $51mn, part of which IS contingent on earn outs.

Hexaware Technologies Ltd's share price ended at Rs347.40, up by Rs1.25 or 0.36%, from its previous close of Rs346.15 on the BSE.
The scrip opened at Rs346 and touched a high and low of Rs349.30 and Rs343.25, respectively. A total of, 4,80,965 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs10,309.75cr.

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