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BSE: 532129 NSE: HEXT (delisted 2020) | |
Industry | IT services |
Founded | 1990 |
Founder | Atul Nishar |
Headquarters | Navi Mumbai, Maharashtra, India |
Area served | Worldwide |
Revenue | US$1.3 billion (2022) |
Number of employees | 28,000 (2022) |
Parent | The Carlyle Group |
Website | hexaware |
Hexaware Technologies is an Indian multinational information technology (IT) and business process company headquartered in Navi Mumbai, India.
Hexaware was founded under the name Aptech Information Systems in 1990 by Atul Nishar as a spin-off from Apple Industries, which served as the IT arm of Aptech which was founded in 1986 by Nishar. [1]
Aptech was rebranded to Hexaware Technologies Limited in 2002. As a result of this transformation, the training division activities were separated and retained under the name Aptech. [2] In the same year, SSI, a software education company, acquired a 27.18 stake in Hexaware. [3]
In 2006, Hexaware acquired Focus Frame, a software testing company based in the US for $34.3 million. [4]
In July 2011, Hexaware signed a five-year term contract worth $177 Million for providing its services with a US-based company. [5]
In August 2013, Hexaware entered into an agreement with HT Global's subsidiary, Baring Private Equity Asia to sell a 70% stake in Hexaware for about $400 million including the stake of the American equity firm General Atlantic, [6] [7] [8] [9] and Hexaware chairman then Nishar which was estimated at $200 million. [10]
In 2014, Bombay High Court approved the merger of Caliber Point Business Solutions with Hexaware with an appointed date of April 1, 2013. [11]
In June 2020, Hexaware received a proposal from HT Global to buy the remaining stake that it does not own in the company. [12]
Hexaware underwent a voluntary delisting process from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The delisting offer began on September 9, 2020, and concluded on September 16, 2020. As a result of the voluntary delisting, trading of Hexaware shares on the NSE was suspended starting from November 2, 2020. [13]
In 2021, the Carlyle Group announced that it plans a $1.01 billion bond to help buy Hexaware. The notes due 2026 would ultimately be used by CA Magnum to help finance the purchase of a 95.4% stake in Hexaware. [14]
In 2020, Hexaware was listed in the "Asia's 200 Best Under A Billion" list by Forbes, and in 2022 Forbes rated the company #135 among Mexico's best employers in 2022. [15]
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