HEXT · price
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Hexaware Technologies Board has approved acquisition of Consulting Professionals Services Holdings Ltd and its subsidiary CPS through its UK subsidiary. CPS is a specialist technology consulting firm based in UK and UAE, serving a FTSE 100 client with annual turnover of GBP 11.74 million (INR 1490.98 million). The acquisition will be 100% for all cash consideration with upfront payment of GBP 6 million and up to GBP 5 million linked to performance, totaling up to GBP 11 million (INR 1397 million). The deal is expected to close in two weeks with no regulatory approvals required. This acquisition aims to consolidate client spend and strengthen Hexaware's position as a trusted AI and Cloud Transformation partner to large financial institutions.
Positive signal for shareholders as the acquisition deepens Hexaware's presence with a blue-chip FTSE 100 client and expands its consulting capabilities in AI and Cloud transformation services. The all-cash deal with performance-linked earnout limits downside risk.