Indian information technology services company Hexaware Technologies Ltd. has acquired U.S. digital consultancy company Mobiquity Inc. for $182 million.
The move will enable Hexaware to gain traction in its banking and pharmaceutical verticals, through Mobiquity’s digital products.
Additionally, Hexaware said that the acquisition will help the company expand its cloud and automation service offerings.
The all all-cash deal includes an upfront payment of $131 million and deferred payouts of $51 million. For the year ended December 31, 2018, Mobiquity booked $70 million in revenue.