Hexaware acquires Mobiquity Inc for $182 million
This is the largest acquisition by Hexaware and the blended entity targets to directly compete with large digital agencies and consulting firms.
Mid-size IT firm Hexaware Technologies nowadays announced the acquisition of Mobiquity Inc for about $182 million.
This is the biggest acquisition by means of the organization and the mixed entity ambitions to at once compete with giant digital companies and consulting firms. Headquartered in the US, Mobiquity is one of the greatest unbiased client ride consulting companies that specializes in developing frictionless multi-channel digital experiences using cloud technologies.
R Srikrishna, CEO, Hexaware Technologies said “Hexaware enters an interesting new segment of growth and functionality 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 skills and, with this acquisition, we will be capable to in addition accelerate our contributions to our customers’ business growth.
Both Hexaware and Mobiquity have created very sturdy affect for their purchasers and have a collectively complementing position. Our combined skills will enhance our market positioning and possibility to make an have an impact on for our clients. “
Mobiquity’s management and teams will proceed besides any changes to shape or ways of working.” John Castleman, CEO of Mobiquity said, “Today we begin a bold new chapter in Mobiquity’s boom story. Joining palms with Hexaware gives us brought scale, a broader portfolio of offerings that are applicable to our clients’ digital journeys, and the opportunity to strengthen the Mobiquity brand.”
Mobiquity provides to Hexaware’s world transport footprint with its centers in Florida, Boston, Philadelphia, New York, Amsterdam, Pune and Ahmedabad. Some of the manufacturers Mobiquity has performed work for encompass Amazon Web Services, Rabobank, Philips and Otsuka.
Sandeep Dhar, President, Customer Experience Transformation (CXT) Business, Hexaware Technologies stated “Over the years Mobiquity Inc. has installed a benchmark in defining omnichannel digital experiences and next-gen person interfaces, such as smart audio system and digital assistants. Their methodology combines consulting, sketch and deep engineering skills that leverage the Cloud. At Hexaware, we have been building competencies in digital engineering, marketing & content material platforms, ecommerce and CRM. Together we will now offer a complete suite of digital solutions enabling superlative purchaser experiences.”
Skadden, Arps, Slate, Meagher & Flom LLP; Houthoff Cooperatief U.A. and J. Sagar Associates acted as the legal advisors to Hexaware, and CG Petsky Prunier, section of the Canaccord Genuity Group, served as the unique economic advisor to Mobiquity Inc.