Hexaware Technologies Limited has informed the Exchange regarding 'Update on Complation of Acquisition'.
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Hexaware Technologies, along with its wholly owned subsidiary, has completed the acquisition of 100% stake in three target entities: SMC Squared, LLC (US), Tech SMC Square India Private Limited, and Tech SMCSquared (GCC) India Private Limited. The acquisition was carried out in accordance with the previously announced definitive agreements. This filing updates the stock exchanges about the formal closure of the deal. The acquisition gives Hexaware full ownership and control over SMC Squared's operations across the US and India.
The completion strengthens Hexaware's portfolio by adding SMC Squared's capabilities to its service offerings. Shareholders may view this positively as it expands the company's geographic and operational footprint, though the actual financial impact will depend on integration and synergy realization.