Hexaware Technologies Acquires SMC Squared for Global Expansion
Hexaware Technologies has acquired SMC Squared in a $120 million all-cash deal. This acquisition strengthens Hexaware's position in the global capability centres market, emphasizing its strategy to deliver comprehensive solutions to optimize and scale such operations. The transaction was finalized without requiring any regulatory approvals.
- Country:
- India
Hexaware Technologies has secured a 100% stake in SMC Squared in a transaction valued at USD 120 million (approximately Rs 1,029 crore) to bolster its presence in the global capability centres (GCC) sector.
The acquisition, disclosed in a regulatory filing, highlights SMC Squared's role in constructing, operating, and transferring GCCs. Hexaware aims to leverage SMC's expertise to enhance its market strategy and extend offerings to a broader client base.
The deal, involving an upfront payment, earnouts, and outperformance bonuses, was concluded without requiring government or regulatory approvals, enabling Hexaware to offer innovative solutions for optimizing GCC operations.
(With inputs from agencies.)
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