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2w ago

Hexaware Completes $120M All-Cash Buyout of SMC Squared’s India Operations

Completed without regulatory approvals, the deal integrates SMC’s GCC delivery frameworks into Hexaware’s AI-driven GCC 2.0 service line.

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Overview

  • Hexaware agreed to acquire Tech SMC Square India Private and Tech SMCSquared (GCC) India for up to $120 million in upfront payments, earnouts and performance bonuses.
  • The all-cash transaction closed on July 17 without requiring regulatory or related-party approvals.
  • SMC Squared’s managed services, build-optimize-transfer and hybrid engagement models will enhance Hexaware’s end-to-end GCC offerings.
  • The acquisition brings SMC’s 500-member workforce and its Bengaluru and Hyderabad delivery centers into Hexaware’s global capability hubs.
  • The merged entity aims to leverage India’s projected $100 billion GCC market growth by 2030 and bolster services in AI, analytics, cloud and modernization.