Hexaware Tech. Ltd.
| Public | |
| Traded as | BSE: 532129 NSE: HEXT |
| ISIN | 🆔 |
| Industry | IT services |
| Founded 📆 | 1990 |
| Founder 👔 | Atul Chandra Nishar |
| Headquarters 🏙️ | Navi Mumbai, Maharashtra, India |
Area served 🗺️ | Worldwide |
Key people |
|
| Services | Information Technology and Business Process Outsourcing |
| Revenue🤑 |  US$677.7 million (2018) |
| US$106.4 million (2018) | |
| US$77.0 million (2018) | |
| Members | |
Number of employees | 18,294 (Q2 2019) |
| Parent | Baring Private Equity Asia |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Hexaware Technologies Limited (HTL) (BSE: 532129, NSE: HEXT) is an information technology and business process outsourcing service provider company based in Navi Mumbai, India, founded in 1990.[1][2]
On 28 July 2014, Hexaware Technologies announced the appointment of R Srikrishna as the Chief Executive Officer. The company has its headquarters in Mumbai and has offices across US, Mexico, and Canada in North America, Brazil in South America, Sydney in Australia, Singapore, Japan, India, China, and the UAE in Asia and UK, Germany, Romania, and the Netherlands in Europe.
Current employee strength is above 18,294 with over 255 clients.[2] After establishing facilities in Chennai,[2] the company started its third development center in Pune in 2006.[2] Hexaware was recognised as the fastest-growing outsourcing provider by the Asia Outsourcing Congress for the year 2015-2016.[3] The company is listed among Asia's top 200 companies under a billion on Forbes.[4]
History
Hexaware is a spin-off of the former Apple Industries, the IT arm of the computer training company Aptech. Aptech was founded by Atul Nishar in 1984. In 2001, Aptech was renamed "Hexaware Technologies Limited". The training division activities were demerged into Aptech, and business solutions were made part of Hexaware Technologies Ltd. In 2002, Aptech was sold to SSI.[5] Even as Atul Nishar left Aptech, he remained on the company's board until 2003.
In 2004, a European Development Centre was established in Germany and an independent BPO firm, Caliber Point, was launched.[2] On 9 December 2013, Hexaware Technologies announced that its board of directors had approved the merger of its wholly owned subsidiary, Caliber Point Business Solutions (a BPO service provider), with the company. The company also acquired a software testing company called Focus Frame in 2006 for US$34.3 million.[4]
Hexaware was involved in a "Build, Operate, and Transfer" (BOT) deal with PeopleSoft in 2003. The company was one of the top five vendors for PeopleSoft Inc. globally and the number one vendor from India. The PeopleSoft practice of Hexaware accounted for nearly one-third of its revenues in the first half of 2004. However, later in 2005, Hexaware faced a significant financial challenge when PeopleSoft was acquired by Oracle. The company's revenue was reduced by 14%.[citation needed]
In August 2004, Hexaware promoted Rusi Brij to Vice Chairman and Chief Executive Officer (CEO).[6][dead link] In 2010, the company established a new global delivery center in Bengaluru, India. In 2013, the company inaugurated its latest Global Delivery Centre (GDC) in Frisco, near Dallas in Texas, USA. Hexaware has its third Global Delivery Center (GDC) in Saltillo, Mexico. In 2013, the company opened a Global Delivery Center in Texas, USA, and another in Singapore in the same year.
On 23 August 2013, Baring Private Equity Asia, based in Singapore, announced its purchase of a 70% stake in Hexaware, including the stakes held by Hexaware's founder-chairman Atul Nishar and private equity firm General Atlantic, for ₹1,687 crore.[1] Atul Nishar remains as non-executive chairman of Hexaware, and P.R. Chandrasekar as Chief Executive Officer (CEO).
In June 2014, Hexaware appointed HCL Technologies' R Srikrishna as CEO.[7] Mr. Srikrishna was president of infrastructure and life sciences businesses at HCL. The following year, in 2015, Sunder Madakshira joined the company as Chief Marketing Officer.[1]
In October 2016, the company expanded its European delivery presence by opening its latest Global Delivery Centre (GDC) in Bucharest, Romania.[8]
Finances
Hexaware experienced a management change in 2013 when a significant portion of Atul Nishar's shares were acquired by Baring Private Equity Asia.[9] Following the investment, Hexaware's consolidated revenues increased from ₹2,285 crore in 2013 to ₹3,123.5 crore in 2015.[10]
According to its Q1 2018 Financial Update, Hexaware reported a 12.1% compound annual growth rate (CAGR) in revenue in US dollar terms. The company also secured US$180 million in new business in 2017.
Services
Hexaware provides Application Transformation and Management Services, Business Intelligence and Analytics, Digital Assurance, Enterprise Solutions, Digital Customer Services, Business Process Services, and Infrastructure Management Services.
Operations
Hexaware's global offices are located in New Jersey, California, Boston, Washington, D.C., and Georgia in the United States; Mexico and Canada in North America; Germany, United Kingdom, the Netherlands, and Romania in Europe; Singapore, Japan, China, and the United Arab Emirates in Asia-Pacific; Sydney and Melbourne offices in Australia; a Russian office; and offices across India in Mumbai, Chennai, Bangalore, Coimbatore, Nagpur, Noida, and Pune.[11]
See also
References
- ↑ 1.0 1.1 1.2 1.3 Gupta, Bhawna (6 May 2015). "Baring PE Asia-controlled Hexaware ropes in Sunder Madakshira as CMO". VCCircle. India: Mosaic Media Ventures. Retrieved 22 Dec 2019. Unknown parameter
|url-status=ignored (help) - ↑ 2.0 2.1 2.2 2.3 2.4 "Annual Report" (PDF). Hexaware.
- ↑ "Asia Outsourcing Congress and Awards". asiaoutsourcingcongress.org. Archived from the original on 25 December 2016. Retrieved 22 November 2016. Unknown parameter
|url-status=ignored (help) - ↑ 4.0 4.1 "Milestones". www.hexaware.com. Retrieved 2008-06-26.
- ↑ "The Hindu Business Line : SSI-Aptech deal: Will it strike the right key?". www.thehindubusinessline.com. Retrieved 2016-11-22.
- ↑ "Economic Times".
- ↑ "Livemint".
- ↑ "Hexaware opens Global Delivery Centre in Bucharest -". 5 October 2016. Archived from the original on 24 November 2016. Retrieved 24 November 2016. Unknown parameter
|url-status=ignored (help) - ↑ Cite error: Invalid
<ref>tag; no text was provided for refs named:1 - ↑ Srivastava, Moulishree (2016-08-01). "Baring Asia not in hurry to exit Hexaware Tech". Business Standard India. Retrieved 2016-11-24.
- ↑ Ltd, Hexaware Technologies. "Hexaware Launches New Campus in Pune". www.prnewswire.com. Retrieved 2017-01-17.
Further reading
- Executive Guide to Offshore IT Services for U.S. Companies, 2000. Vienna, Virginia: INPUT. 2000. pp. 27–30 – via nternet archive. Search this book on
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