Hexaware to Acquire GCC-Focused Firms for Rs 1,029 Cr; Stock Gains 1%
Shares of Hexaware Technologies Ltd rose 1% to touch a day’s high of Rs 882.05 on 17th July, after the company announced that it had entered into two separate Share Purchase Agreements on the same day to acquire ‘Tech SMC Square India’ and ‘Tech SMCSquared (GCC) India’.
Hexaware Technologies will acquire ‘Tech SMC Square India’ and ‘Tech SMCSquared (GCC) India’ in an all-cash deal worth up to $120 million (around Rs 1,029 crore). The transaction is expected to close today, as per the company’s exchange filing.
The payment structure includes:
- Up to $45 million in performance-based earnouts
- Up to $30 million as a bonus for exceeding targets
The acquisition strengthens Hexaware’s position in the rapidly growing Global Capability Center (GCC) market in India, which is projected to cross $100 billion by 2030.
SMC has approximately 500 employees, with offices in the US and delivery centres in Bengaluru and Hyderabad, offering a strong platform for global expansion.
Through this acquisition, Hexaware gains:
- Proven GCC expertise to speed up its go-to-market plans
- Scalable services to extend to its wider client base
- A stronger combined offering by integrating SMC’s setup capabilities with Hexaware’s strengths in AI, cloud, and digital platforms
- A reinforced GCC-focused service line to deliver top-tier solutions and attract tech talent
At 12:19 PM, the shares of Hexaware Technologies were trading 1.25% higher at Rs 868.15 on NSE.
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