Draft:Hexaware Technologies
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Hexaware Technologies Limited is an Indian multinational information technology (IT) services and consulting company headquartered in Navi Mumbai, Maharashtra. Founded in 1990, the company provides software development, cloud computing, enterprise automation, and business process outsourcing (BPO). As of 2026, it operates 68 offices across 28 countries and employs over 33,000 people globally.[1]
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Last edited by Yamla (talk | contribs) 3 days ago. (Update) |
Company type | Public |
|---|---|
| BSE: 532129 NSE: HEXT | |
| Industry | Information technology, Consulting, Outsourcing |
| Founded | 20 November 1990; 35 years ago |
| Founder | Atul Nishar |
| Headquarters | 152, Millennium Business Park, Navi Mumbai, Maharashtra, India |
Area served | Worldwide |
Key people | R. Srikrishna (CEO & MD) Vikash Kumar Jain (CFO) |
| Revenue | ₹13,430 crore (US$1.5 billion) (2025) |
| ₹1,368 crore (2025) | |
| Total assets | ₹6,539 crore (2025) |
Number of employees | 33,000+ (2025) |
| Website | hexaware |
History
Foundation and early years (1990–2002)
The company was founded on November 20, 1990, by Indian entrepreneur Atul Nishar as the software services division of Aptech Limited, operating under the name Aptech Information Systems Limited.[2] During the 1990s, the company established its early presence by providing dedicated software services to the airline and banking sectors, commencing its North American and European operations in 1995.
In 1999, the software division achieved the Software Engineering Institute's (SEI) Capability Maturity Model (CMM) Level 4 assessment, reaching Level 5 the following year. In 2001, recognizing the differing business models of IT training and software engineering, the software division was formally demerged from Aptech. On April 2, 2002, the newly independent corporate entity was renamed Hexaware Technologies Limited.
Private equity ownership and relisting (2013–present)
In 2013, Baring Private Equity Asia (BPEA) acquired a controlling stake in the company. Following strategic restructuring under BPEA, Hexaware was voluntarily delisted from the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) in November 2020, transitioning into a privately held company.
In 2021, the US-based private equity firm Carlyle Group acquired a 95.4% majority stake in Hexaware from BPEA in a transaction valuing the company at approximately US$3 billion.[3] In February 2025, the company made its return to the public markets through an ₹8,750 crore Initial Public Offering (IPO).[4]
Mergers and acquisitions
Hexaware has historically utilized acquisitions to expand its vertical expertise and geographical footprint. Key acquisitions include:
- FocusFrame (2006): Acquired to expand its automated testing services footprint globally.
- Mobiquity (2019): In its largest acquisition to date, Hexaware acquired US-based digital customer experience consulting firm Mobiquity for US$182 million in an all-cash deal.[5] This acquisition integrated Mobiquity’s cloud capabilities and extensive footprint in the banking and pharmaceutical sectors into Hexaware’s core offerings.
- CyberSolve (2025): In November 2025, Hexaware finalized the acquisition of US-based cybersecurity firm CyberSolve for US$66 million.[6] The purchase expanded the company's Identity and Access Management (IAM) and zero-trust security services to enterprise clients.
- SMC Squared (2025): Acquired to expand Hexaware's footprint in the Indian Global Capability Center (GCC) market.
Operations
Hexaware operates a global delivery model utilizing a mix of offshore, nearshore, and onshore facilities. The company operates 68 offices globally, managing delivery through dedicated IT campuses.
Campuses and Delivery Centers
- India (Offshore): The company's largest employee concentration is based in India, with its primary corporate headquarters located at the Millennium Business Park in Navi Mumbai. Its largest operational facility is the "Green Campus" located in Siruseri, Chennai. Additional major delivery centers are operated in Pune, Bengaluru, and Noida. The company has also expanded into tier-2 Indian cities, establishing centers in Dehradun, Coimbatore, Mangalore, and Ahmedabad (GIFT City).
- International (Nearshore/Onshore): Hexaware operates major global delivery hubs in Saltillo (Mexico), Tver (Russia), Colombo (Sri Lanka), Singapore, and the Philippines. In North America, the company maintains regional operational centers in Boston, Philadelphia, and Florida.
Products and services
Hexaware categorizes its core service offerings into application transformation and management, enterprise solutions, digital assurance, cloud migration, and IT infrastructure management. The company also maintains a dedicated business process outsourcing (BPO) division.
The company generates its revenue primarily from the Banking and Financial Services (BFS) sector. Secondary revenue streams include healthcare, insurance, travel, transportation, and consumer manufacturing.
Corporate affairs
Financials
As of the 2025 calendar year, Hexaware operates as a publicly traded IT service provider. The company reported annual revenues of ₹13,430 crore (US$1.5 billion), representing a 12.2% year-over-year growth. Net income for the same period was recorded at ₹1,368 crore.[7] The company maintains a low debt-to-equity ratio, holding over US$237 million in cash equivalents at the close of 2025.