Latest news with #AmrinderSingh
Economic Times
2 days ago
- Business
- Economic Times
Hexaware acquires two SMC Squared firms for over Rs 1,000 crore in GCC space
ANI Mid-sized IT player Hexaware Technologies Thursday said it has acquired two SMC Squared group firms for a cumulative cash consideration of Rs 1,029.12 crore (about $120 million). The acquisition of Tech SMC Squared India and Tech SMCSquared (GCC) India is aimed at expanding Hexaware's presence in the global capability centre (GCC) space, the company said. 'The acquisition is a strategic step in Hexaware's mission to deliver future-proof GCC solutions that go beyond cost efficiency, anchored in a combined human and digital agent-driven model,' Hexaware said in a regulatory filing. The recently listed IT company is the latest to join the race to help multinationals establish GCCs in India, a growing market over the past two years expected to cross $100 billion by proposed acquisition does not require any governmental or regulatory approvals, the filing said.'Our clients are increasingly looking for GCC partners who bring more than staffing or infrastructure… This acquisition enables us to deliver long-term value to enterprises, leveraging our human and digital agent-driven model and proprietary IT delivery platforms,' said Amrinder Singh, president and head-EMEA & APAC operations, are offshore or nearshore hubs set up by foreign companies to deliver back-office business functions such as IT, finance, HR, analytics and research & development (R&D). Over the past few years, such centres are expanding from being cost arbitrage-driven support units to value-generating strategic centres.'Historically, we have not addressed the GCC market, and I think there are three sets of opportunities. One is to help set up new GCCs, there's quite a velocity of it happening. And with the current macros, that may accelerate new clients setting up GCCs…The second opportunity is scaling within GCCs once it is set up… the bigger opportunity is to transform with AI,' Hexaware CEO Srikrishna Ramakarthikeyan told ET third is that there is a percentage of GCCs that will exit back into outsourcing. That is also an opportunity, he SMC Squared has helped set up over 30 GCCs across commerce, manufacturing, financial services, health care and consumer brands. It operates through engagement models, such as managed services, build-optimise-transfer and hybrid solutions, which lower operating costs while assembling GCC GCC enabler has a total workforce of around 500 employees, with a go-to-market office in the US and two delivery centres in India—Bengaluru and Hyderabad—supporting operations across HR, infrastructure, employee well-being, finance and strategic technology consulting.'Enterprises are shifting toward outcome-based models, requiring partners who can deliver stable, scalable and high-accountability operations… SMC's proven playbook and relationships in the mid-market GCC segment will accelerate our go-to-market strategy… We will extend SMC's offerings to our broader client base, including existing Hexaware customers,' Hexaware said in its filing. By integrating SMC's GCC setup capabilities with Hexaware's strengths in AI, analytics, cloud transformation, modernisation and enterprise platforms, we can deliver end-to-end solutions for clients looking to optimise and scale their GCC operations, it added. SMC Group's turnover for calendar year 2024 stood at $22.58 million (Rs 189.15 crore at an exchange rate of Rs 83.77 per dollar).'For over a decade, we've helped shape the GCC industry, and this acquisition expands what we can deliver globally with strengthened capabilities across AI, analytics, modernisation, cloud transformation, and enterprise platforms while growing our delivery footprint with new centres in Latin America and increasing client activity in the UK and Europe,' said Patricia Connolly, CEO, SMC in India have grown at a CAGR of 11% over the past five years with one new GCC being set up per week at least on an average in the GCC capital of the world, India is home to about 55% of global GCCs with nearly 1,800 centres, generating $68 billion in export revenue, contributing around 1.6% to the national GDP, as per latest government around 32% of global GCC talent is based in India with nearly 2.16 million employed professionals in the GCC sector, which is expected to touch 2.8 million by 2030. 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Time of India
3 days ago
- Business
- Time of India
Hexaware acquires two SMC Squared firms for over Rs 1,000 crore in GCC space
Academy Empower your mind, elevate your skills Mid-sized IT player Hexaware Technologies Thursday said it has acquired two SMC Squared group firms for a cumulative cash consideration of Rs 1,029.12 crore (about $120 million).The acquisition of Tech SMC Squared India and Tech SMCSquared (GCC) India is aimed at expanding Hexaware's presence in the global capability centre (GCC) space, the company said.'The acquisition is a strategic step in Hexaware's mission to deliver future-proof GCC solutions that go beyond cost efficiency, anchored in a combined human and digital agent-driven model,' Hexaware said in a regulatory recently listed IT company is the latest to join the race to help multinationals establish GCCs in India, a growing market over the past two years expected to cross $100 billion by proposed acquisition does not require any governmental or regulatory approvals, the filing said.'Our clients are increasingly looking for GCC partners who bring more than staffing or infrastructure… This acquisition enables us to deliver long-term value to enterprises, leveraging our human and digital agent-driven model and proprietary IT delivery platforms,' said Amrinder Singh, president and head-EMEA & APAC operations, are offshore or nearshore hubs set up by foreign companies to deliver back-office business functions such as IT, finance, HR, analytics and research & development (R&D). Over the past few years, such centres are expanding from being cost arbitrage-driven support units to value-generating strategic centres.'Historically, we have not addressed the GCC market, and I think there are three sets of opportunities. One is to help set up new GCCs, there's quite a velocity of it happening. And with the current macros, that may accelerate new clients setting up GCCs…The second opportunity is scaling within GCCs once it is set up… the bigger opportunity is to transform with AI,' Hexaware CEO Srikrishna Ramakarthikeyan told ET third is that there is a percentage of GCCs that will exit back into outsourcing. That is also an opportunity, he SMC Squared has helped set up over 30 GCCs across commerce, manufacturing, financial services, health care and consumer brands. It operates through engagement models, such as managed services, build-optimise-transfer and hybrid solutions, which lower operating costs while assembling GCC GCC enabler has a total workforce of around 500 employees, with a go-to-market office in the US and two delivery centres in India—Bengaluru and Hyderabad—supporting operations across HR, infrastructure, employee well-being, finance and strategic technology consulting.'Enterprises are shifting toward outcome-based models, requiring partners who can deliver stable, scalable and high-accountability operations… SMC's proven playbook and relationships in the mid-market GCC segment will accelerate our go-to-market strategy… We will extend SMC's offerings to our broader client base, including existing Hexaware customers,' Hexaware said in its integrating SMC's GCC setup capabilities with Hexaware's strengths in AI, analytics, cloud transformation, modernisation and enterprise platforms , we can deliver end-to-end solutions for clients looking to optimise and scale their GCC operations, it Group's turnover for calendar year 2024 stood at $22.58 million (Rs 189.15 crore at an exchange rate of Rs 83.77 per dollar).'For over a decade, we've helped shape the GCC industry, and this acquisition expands what we can deliver globally with strengthened capabilities across AI, analytics, modernisation, cloud transformation, and enterprise platforms while growing our delivery footprint with new centres in Latin America and increasing client activity in the UK and Europe,' said Patricia Connolly, CEO, SMC in India have grown at a CAGR of 11% over the past five years with one new GCC being set up per week at least on an average in the GCC capital of the world, India is home to about 55% of global GCCs with nearly 1,800 centres, generating $68 billion in export revenue, contributing around 1.6% to the national GDP, as per latest government around 32% of global GCC talent is based in India with nearly 2.16 million employed professionals in the GCC sector, which is expected to touch 2.8 million by 2030.
The Hindu
3 days ago
- Business
- The Hindu
Hexaware Technologies to acquire SMC Squared in a cash deal of ₹120 million to up its GCC play
Hexaware Technologies, a provider of IT solutions and services, has acquired SMC Squared, a player in building global capability centers (GCCs), in a cash deal of $120 million to enhance its GCC presence in India, as per a regulatory filing by the company on Thursday (July 17, 2025). Regarding the acquisition, Hexaware stated that India remained a strategic growth market for the company. The Global Capability Center (GCC) segment was experiencing exponential growth in the country, with the market projected to exceed $100 billion by 2030. 'This presents a significant opportunity for Hexaware to expand its footprint and deepen its capabilities in this space,'' it said in the filing. By acquiring SMC, Hexaware would gain established GCC expertise through SMC's proven playbook and relationships in the mid-market GCC segment, and the buyout was also expected to give a boost to its go-to-market strategy, it said on BSE. SMC has a total workforce of around 500 employees, with offices in India and delivery centers in India, in Bengaluru and Hyderabad. 'Our clients are increasingly looking for GCC partners who bring more than staffing or infrastructure,' said Amrinder Singh, President & Head – EMEA & APAC Operations, Hexaware. 'With SMC Squared, we gain proven governance, delivery credibility, and scale in areas where execution strength is non-negotiable. This acquisition enables us to deliver long-term value to enterprises, leveraging our human and digital agent-driven model and proprietary IT delivery platforms.' The acquisition was a strategic step in Hexaware's mission to deliver future-proof GCC solutions that go beyond cost efficiency, anchored in a combined human and digital agent-driven model, it said in a communique.
Business Standard
3 days ago
- Business
- Business Standard
Hexaware Acquires SMC Squared, a Leader in Building Global Capability Centers
PRNewswire Mumbai (Maharashtra) [India], July 17: Hexaware Technologies (NSE: HEXT), a global provider of IT solutions and services, is pleased to welcome into its fold SMC Squared, a leader in building global capability centers (GCCs). The acquisition is a strategic step in Hexaware's mission to deliver future-proof GCC solutions that go beyond cost efficiency, anchored in a combined human and digital agent-driven model. Hexaware's newly launched GCC 2.0[1] service line aims to drive long-term value for global clients by blending SMC Squared's proven GCC build-operate expertise with Hexaware's platform-led IT delivery capabilities, providing clients with a differentiated proposition that combines AI and digital innovation with strategic GCC value. SMC Squared operates through engagement models, such as managed services, build-optimize-transfer, and hybrid solutions, which lower operating costs while assembling GCC teams that act as seamless extensions of every client's strategic agenda. With proven delivery across HR, infrastructure, employee well-being, finance, and strategic technology consulting, SMC Squared brings institutional maturity and a trusted execution model that aligns with Hexaware's vision to offer fully integrated, high-value GCC operations. Together, the companies expect to drive significant growth and unlock synergy potential across large accounts in the near future. "Our clients are increasingly looking for GCC partners who bring more than staffing or infrastructure," said Amrinder Singh, President & Head - EMEA & APAC Operations, Hexaware. "With SMC Squared, we gain proven governance, delivery credibility, and scale in areas where execution strength is non-negotiable. This acquisition enables us to deliver long-term value to enterprises, leveraging our human and digital agent-driven model and proprietary IT delivery platforms." The move comes as the global GCC market accelerates, with the GCC sector in India alone expected to cross $100 billion by 20302. Enterprises are shifting toward outcome-based models, requiring partners who can deliver stable, scalable, and high-accountability operations. "On behalf of the SMC Squared team, I'm thrilled to share that we're now part of Hexaware," said Patricia Connolly, CEO, SMC Squared. "For over a decade, we've helped shape the GCC industry, and this acquisition expands what we can deliver globally with strengthened capabilities across AI, analytics, modernization, cloud transformation, and enterprise platforms while growing our delivery footprint with new centers in Latin America and increasing client activity in the UK and Europe." SMC Squared works with some of the most recognized global brands across commerce, manufacturing, financial services, health care, and consumer brands. Among SMC's clients is Papa John's International, Inc. (PZZA), operating global quick-service restaurants with a significant international presence including India. "Partnering with SMC to build our dedicated GCC team has been a transformative experience. Our GCC team is fully integrated, aligned with our strategic vision, and focused on delivering real business value," said Michael Wyant, Vice President of Corporate Systems & Enterprise Data, Papa Johns. "From modernizing our ERP systems to enhancing our Workday integrations and building a robust data and analytics foundation, SMC has consistently delivered. We look forward to working together, now with Hexaware, to accelerate modernization. Congratulations SMC Squared and Hexaware. We're excited for what lies ahead in our GCC partnership." The combined organization now offers a unified GCC services stack spanning advisory, setup, operations, and optimization, and supported by talent depth, delivery consistency, and execution rigor. Reference 1. GCC 2.0 refers to the next-generation evolution of traditional Global Capability Centers which are offshore or nearshore hubs established by multinational enterprises (MNEs) to deliver critical business functions such as IT, finance, HR, analytics, and R & D. GCC 2.0 infuses Artificial Intelligence (AI) to transform the role of these centers from cost arbitrage-driven support units to value-generating strategic centers. 2. India's global centre market to grow to $105 billion by 2030, says Nasscom-Zinnov report About SMC Squared SMC Squared drives digital evolution through Global Capability Centers (GCCs), empowering businesses to optimize offshore costs and attract top-tier tech talent. Its tailored models--build-optimize-transfer, managed services, and hybrid solutions--ensure cost-effectiveness while establishing high-performing teams aligned with client's brand and boardroom objectives. With a proven recruit-for-fit strategy, SMC Squared enhances quality and productivity, delivering economic advantages supported by client testimonials. Discover more at 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
The Wire
3 days ago
- Business
- The Wire
Hexaware Acquires SMC Squared, a Leader in Building Global Capability Centers
Rolls Out GCC 2.0 Service Line to Unlock Long-term Value for Enterprises MUMBAI, India and LONDON and ISELIN, N.J., July 17, 2025 /PRNewswire/ -- Hexaware Technologies (NSE: HEXT), a global provider of IT solutions and services, is pleased to welcome into its fold SMC Squared, a leader in building global capability centers (GCCs). The acquisition is a strategic step in Hexaware's mission to deliver future-proof GCC solutions that go beyond cost efficiency, anchored in a combined human and digital agent-driven model. Hexaware's newly launched GCC 2.01 service line aims to drive long-term value for global clients by blending SMC Squared's proven GCC build-operate expertise with Hexaware's platform-led IT delivery capabilities, providing clients with a differentiated proposition that combines AI and digital innovation with strategic GCC value. SMC Squared operates through engagement models, such as managed services, build-optimize-transfer, and hybrid solutions, which lower operating costs while assembling GCC teams that act as seamless extensions of every client's strategic agenda. With proven delivery across HR, infrastructure, employee well-being, finance, and strategic technology consulting, SMC Squared brings institutional maturity and a trusted execution model that aligns with Hexaware's vision to offer fully integrated, high-value GCC operations. Together, the companies expect to drive significant growth and unlock synergy potential across large accounts in the near future. "Our clients are increasingly looking for GCC partners who bring more than staffing or infrastructure," said Amrinder Singh, President & Head – EMEA & APAC Operations, Hexaware. "With SMC Squared, we gain proven governance, delivery credibility, and scale in areas where execution strength is non-negotiable. This acquisition enables us to deliver long-term value to enterprises, leveraging our human and digital agent-driven model and proprietary IT delivery platforms." The move comes as the global GCC market accelerates, with the GCC sector in India alone expected to cross $100 billion by 20302. Enterprises are shifting toward outcome-based models, requiring partners who can deliver stable, scalable, and high-accountability operations. "On behalf of the SMC Squared team, I'm thrilled to share that we're now part of Hexaware," said Patricia Connolly, CEO, SMC Squared. "For over a decade, we've helped shape the GCC industry, and this acquisition expands what we can deliver globally with strengthened capabilities across AI, analytics, modernization, cloud transformation, and enterprise platforms while growing our delivery footprint with new centers in Latin America and increasing client activity in the UK and Europe." SMC Squared works with some of the most recognized global brands across commerce, manufacturing, financial services, health care, and consumer brands. Among SMC's clients is Papa John's International, Inc. (PZZA), operating global quick-service restaurants with a significant international presence including India. "Partnering with SMC to build our dedicated GCC team has been a transformative experience. Our GCC team is fully integrated, aligned with our strategic vision, and focused on delivering real business value," said Michael Wyant, Vice President of Corporate Systems & Enterprise Data, Papa Johns. "From modernizing our ERP systems to enhancing our Workday integrations and building a robust data and analytics foundation, SMC has consistently delivered. We look forward to working together, now with Hexaware, to accelerate modernization. Congratulations SMC Squared and Hexaware. We're excited for what lies ahead in our GCC partnership." The combined organization now offers a unified GCC services stack spanning advisory, setup, operations, and optimization, and supported by talent depth, delivery consistency, and execution rigor. Reference 1. GCC 2.0 refers to the next-generation evolution of traditional Global Capability Centers which are offshore or nearshore hubs established by multinational enterprises (MNEs) to deliver critical business functions such as IT, finance, HR, analytics, and R&D. GCC 2.0 infuses Artificial Intelligence (AI) to transform the role of these centers from cost arbitrage-driven support units to value-generating strategic centers. 2. India's global centre market to grow to $105 billion by 2030, says Nasscom-Zinnov report About SMC Squared SMC Squared drives digital evolution through Global Capability Centers (GCCs), empowering businesses to optimize offshore costs and attract top-tier tech talent. Its tailored models—build-optimize-transfer, managed services, and hybrid solutions—ensure cost-effectiveness while establishing high-performing teams aligned with client's brand and boardroom objectives. With a proven recruit-for-fit strategy, SMC Squared enhances quality and productivity, delivering economic advantages supported by client testimonials. Discover more at https: 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 Logo: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.).
