Hexaware acquires US-based Mobiquity for $182 million

IT services and consultancy firm Hexaware Technologies has acquired US-based Mobiquity Inc for around $182 million, in its largest ever investment, to expand its presence in the market for digital products.

The deal will help Mumbai-based Hexaware gain bolster its banking and pharmaceutical verticals, through Mobiquity’s digital products.
Hexaware will pay $131 million upfront to Mobiquity and pay the remaining $51 million based on earnouts, the company said.
Mobiquity is one of the largest independent customer experience consulting firms that specializes in creating frictionless multi-channel digital experiences using cloud technologies. By combining with Mobiquity, Hexaware, one of India’s fastest growing IT Consulting firms, aims to directly compete with large digital agencies and consulting firms.
Mobiquity creates digital products for some of the well-known brands such as Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka.
Headquartered in the US, and with a global presence across 3 continents, Mobiquity is one of the very few digital customer experience consulting partners for AWS and are experts at leveraging some of the most sophisticated capabilities of AWS.
“Hexaware enters an exciting new phase of growth and capability 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 capabilities and, with this acquisition, we will be able to further accelerate our contributions to our customers’ business growth,” R Srikrishna, CEO, Hexaware Technologies said. 
“Over the years Mobiquity Inc has established a benchmark in defining omnichannel digital experiences and next-gen user interfaces, such as smart speakers and digital assistants. Their methodology combines consulting, design and deep engineering capabilities that leverage the cloud. At Hexaware, we have been building capabilities in digital engineering, marketing and content platforms, e-commerce and CRM. Together we will now offer a comprehensive suite of digital solutions enabling superlative customer experiences,” added Sandeep Dhar, president, Customer Experience Transformation (CXT) Business, Hexaware Technologies.
Mobiquity Inc’s leadership and teams will continue without any changes to structure or ways of working.
John Castleman, CEO of Mobiquity Inc. says he is excited about the growth prospects. “Today we start a bold new chapter in Mobiquity’s growth story. Joining hands with Hexaware gives us added scale, a broader portfolio of offerings that are relevant to our clients’ digital journeys, and the opportunity to strengthen the Mobiquity brand.”
Mobiquity adds to Hexaware’s global delivery footprint with its centers in Florida, Boston, Philadelphia, New York, Amsterdam, Pune and Ahmedabad.
Mobiquity is a digital consultancy that partners with the world's leading brands to design and deliver compelling digital products and services for their customers.