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Hexaware buys US-based Mobiquity for $182 mn to expand cloud offerings

Reuters/Bengaluru 14 Jun 19 | 10:28 AM

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.

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Hexaware will pay $131 million upfront to Mobiquity and a deferred consideration of $51 million will be paid based on earnouts, the company said.

US-based Mobiquity makes products for partners including Amazon's AWS and Netherlands-headquartered software company Bankbase.

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