Hexaware Technologies buys US-based Mobiquity Inc for $182 mn to expand cloud, automation service offerings

Indian IT services company Hexaware Technologies Ltd said on Friday it bought privately owned Mobiquity Inc for $182 million, to expand its cloud and automation service offerings

|Jun 14, 2019, 15:11:28 IST

Bengaluru: Indian IT services company Hexaware Technologies Ltd said on Friday it bought privately owned Mobiquity Inc for $182 million, to expand its cloud and automation service offerings.The deal will help Mumbai-based Hexaware gain traction in its banking and pharmaceutical verticals, through Mobiquity’s digital products.Hexaware will pay $131 million upfront to Mobiquity and deferred consideration of $51 million will be paid based on earnouts, the company said.U.S.-based Mobiquity makes products for partners including Amazon’s AWS and Netherlands-headquartered software company Bankbase.

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Hexaware Technologies buys US-based Mobiquity Inc for $182 mn to expand cloud, automation service offerings

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India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

UK inflation cools further to 2.6% in June as transport and food prices ease

India's gem and jewellery exports jump 26.5% in June on stronger global demand