Hexaware acquires Mobiquity for $182 million
IT firm Hexaware has acquired US-based Mobiquity Inc for a total consideration of about USD 182 million (approximately Rs 1,266 crore).
Mobiquity creates digital products for brands like Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka. Mobiquity group revenue was USD 70 million for the year ended December 31, 2018.
"This is the largest ever investment by Hexaware and the combined entity aims to directly compete with large digital agencies and consulting firms," Hexaware said in a statement.
R Srikrishna, CEO of Hexaware Technologies, said, with this acquisition, Hexaware enters an exciting new phase of growth and capability.
"Mobiquity strengthens two of our key strategic offerings, Cloudify Everything, and Customer Experience Transformation. We are seeing str...