PRNewswire
Mumbai (Maharashtra) [India]/ London [UK]/ Iselin (New Jersey) [US], May 21: Hexaware Technologies (NSE: HEXT), a global IT services and solutions provider, today announced that it has entered into an agreement to acquire Consulting Professionals Services Holdings Limited together with its wholly owned subsidiary Consulting Professionals Services Limited ("CPS"). The transaction is expected to close within two weeks.
Primarily based in the United Kingdom and the United Arab Emirates, CPS is a specialist technology consulting and professional services firm delivering high-value consulting covering regulatory compliance, technology infrastructure, governance and risk, and business transformation to an FTSE 100 client. Hexaware has an existing relationship with this FTSE 100 client and is among their top IT service providers. The acquisition of CPS is expected to consolidate client spend, strengthening Hexaware's strategic positioning within the client's consolidated supplier landscape.
In addition, this acquisition will strengthen Hexaware's ambition to be a trusted AI and cloud transformation partner to leading financial institutions and blue-chip organizations--from consulting and advisory to implementation and operations. CPS deepens this through its advisory maturity and interconnected local and global delivery models. Together, the companies expect to drive significant market expansion and diversification across large enterprise accounts.
"With CPS, we gain access to high-performance talent in the UAE and UK. This acquisition adds scale and strengthens our credibility in program assurance and cloud engineering, which is significant as we expand our delivery locations and workforce diversity," said Parameshwaran Iyer, Country Head - UK & Ireland, Hexaware. "Our customers are increasingly looking for partners who bring trusted advisory and execution excellence. CPS brings a strong consulting capability which aligns with our purpose of creating smiles by delivering business value."
Amjad Riaz, Managing Partner, CPS, said, "Having worked extensively in the Financial Services and Market Infrastructure sectors for a number of years, we believe this transaction will enable us to deliver greater value to our clients drawing on the wider capabilities of Hexaware."
About Hexaware
Hexaware is a global technology and business process services company. Every day, Hexawarians wake up with a singular purpose: to create smiles through great people and technology. With offices across the world, we empower enterprises worldwide to realize digital transformation at scale and speed by partnering with them to build, transform, run, and optimize their technology and business processes. Learn more about Hexaware at hexaware.com.
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