Hexaware buys Mobiquity for $182 million

PUNE: Hexaware Technologies on Friday said it has acquired US-based customer experience firm Mobiquity Inc for $182 million. Hexaware will pay $131 million in cash and the balance $51 million would be paid based on earnouts, the company said in a filing to the stock exchanges, adding that Mobiquity will remain an independent unit.

Mobiquity, which leverages Amazon Web Services and Amazon’s Alexa to deliver services to clients, posted a revenue of $71 million last year and has grown at a CAGR of 24% in the last three years. R Srikrishna, CEO of Hexaware, said, “Mobiquity strengthens two of our key strategic offerings- cloudify everything and customer experience transformation. We believe that in the future, a vast majority of new products will get built native to the cloud.”