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June 2019

CG Petsky Prunier Advises Global Digital Consultancy Mobiquity on its Sale to Hexaware for $182 Million

CG Petsky Prunier is pleased to announce it has advised global digital consultancy Mobiquity Inc. on its sale to Hexaware Technologies Ltd., one of India’s fastest growing IT consulting firms, for a total consideration of approximately $182 million. Mobiquity was previously a portfolio company of NewSpring Growth, part of NewSpring Capital.

Headquartered in the US with a global presence across three continents, Mobiquity is one of the largest independent customer experience consulting firms specializing in creating frictionless, multi-channel digital experiences using cloud technologies. The consultancy creates digital products for some of the most well recognized brands in the world, including Amazon Web Services, Rabobank, Philips, Wawa, Backbase, and Otsuka, among others. Mobiquity is one of the only Digital Customer Experience Consulting Partners for AWS and is expert at leveraging some of the most sophisticated capabilities of AWS.

Mobiquity’s approach balances human needs with usefully applied technology, unbound creativity with research and analytics, and agile development with strict engineering and security standards. The consultancy’s end-to-end services consider every dimension of a digital business from marketing to IT, providing strategy, experience design, product engineering, cloud services, and analytics. Mobiquity is an AWS Partner Network (APN) Premier Consulting Partner and has worked with AWS since 2011 to deliver 100% cloud-based innovation to its clients. The firm also has a strategic partnership with Backbase, in both product engineering and in implementation services, to provide digital solutions for retail banking companies across the world.

Hexaware is a fast growing, next-generation provider of IT, BPO, and consulting services. The company serves customers in banking, financial services, capital markets, healthcare, insurance, manufacturing, retail, education, telecom, professional services (tax, audit, accounting, and legal), travel, transportation, and logistics. Hexaware delivers highly evolved services in rapid application prototyping, development, and deployment; build, migrate, and run cloud solutions; automation-based application support; enterprise solutions for digitizing the back-office; customer experience transformation; business intelligence and analytics; digital assurance (testing); infrastructure management services and business process services. Hexaware services customers around the world in more than two dozen languages. The company’s goal is to be the first IT services company in the world to have a 50% digital workforce.

The acquisition of Mobiquity strengthens two of Hexaware’s key strategic offerings: Cloudify Everything and Customer Experience Transformation. Mobiquity has established a benchmark in defining omnichannel digital experiences and next-gen user interfaces, such as smart speakers and digital assistants. The consultancy’s methodology combines consulting, design, and deep engineering capabilities that leverage the Cloud. Hexaware has also built capabilities in digital engineering, marketing and content platforms, e-commerce, and CRM. Together, the two companies will now offer a comprehensive suite of digital solutions enabling superlative customer experiences. Mobiquity’s leadership and teams will continue without any changes to structure or ways of working.

CG Petsky Prunier, with a team led by Sanjay Chadda, John Prunier, and Clayton Young, served as the exclusive financial advisor to Mobiquity and NewSpring.


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