Latest news with #SMCSquared
Entrepreneur
4 days ago
- Business
- Entrepreneur
Hexaware Technologies Acquires SMC Squared for USD 120 Mn to Strengthen GCC Capabilities
The acquisition aims to create a comprehensive GCC services stack, combining Hexaware's IT delivery strengths with SMC Squared's expertise in setting up and managing GCCs. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Hexaware Technologies has announced the acquisition of SMC Squared, a global capability centre (GCC) enabler, for an enterprise value of USD 120 million. According to a disclosure filed with the Bombay Stock Exchange, the transaction includes an upfront payment of USD 90 million, with additional payouts linked to performance and a USD 30 million earnout bonus earmarked for exceeding targets. The acquisition aims to create a comprehensive GCC services stack, combining Hexaware's IT delivery strengths with SMC Squared's expertise in setting up and managing GCCs. With operations in the US and India, SMC Squared has established more than 30 GCCs using engagement models such as managed services, build-optimise-transfer, and hybrid solutions. The company reported a revenue of USD 22 million in 2024 and USD 16 million in the first half of 2025. Hexaware recently launched its GCC 2.0 service line, which integrates SMC Squared's capabilities with its own to provide end-to-end advisory, setup, operations, and optimisation services. This move is seen as a strategic step to cater to growing enterprise demand for more robust and value-driven GCC partnerships. "Our clients are increasingly looking for GCC partners who bring more than staffing or infrastructure," said Amrinder Singh, President and Head of EMEA and APAC Operations at Hexaware. "With SMC Squared, we gain proven governance, delivery credibility, and scale in areas where execution strength is non-negotiable." The combined entity is expected to drive accelerated growth, particularly among Hexaware's larger accounts. The GCC industry in India has seen rapid expansion, with over 1,800 entities currently operating. Industry estimates suggest the sector could surpass USD 100 billion in revenue by 2030, up from the present USD 65 billion. GCCs are evolving into technology hubs, serving critical transformation roles for global enterprises.
Economic Times
4 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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News18
5 days ago
- Business
- News18
Hexaware acquires 100 pc stake in SMC Squared for Rs 1,029 crore
New Delhi, Jul 17 (PTI) IT company Hexaware Technologies has acquired 100 per cent stake in SMC Squared for USD 120 million, about Rs 1,029 crore, in an all-cash deal to expand its play on global capability centres, the company said in a regulatory filing. SMC Squared builds, operates and transfers global capability centres (GCC). 'By acquiring SMC, Hexaware gains established GCC expertise: 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," the filing said. The aggregate consideration including contingent components for the acquisition is up to USD 120 million (equivalent to Rs 1,029 crore) subject to certain customary adjustments on cash, debt and taxes, the filing said. 'The breakup of consideration is USD 45 million upfront payout, up to USD 45 million of earnouts and up to USD 30 million outperformance earnout bonus," the filing said. The acquisition does not require any governmental or regulatory approvals and was closed on the same day of the announcement, the company said. view comments First Published: July 17, 2025, 17:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
5 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.
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Business Standard
5 days ago
- Business
- Business Standard
Hexaware acquires full stake in SMC Squared for ₹1,029 crore in cash deal
IT company Hexaware Technologies has acquired 100 per cent stake in SMC Squared for $120 million, about ₹1,029 crore, in an all-cash deal to expand its play on global capability centres, the company said in a regulatory filing. SMC Squared builds, operates and transfers global capability centres (GCC). "By acquiring SMC, Hexaware gains established GCC expertise: 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," the filing said. The aggregate consideration including contingent components for the acquisition is up to $120 million (equivalent to₹ 1,029 crore) subject to certain customary adjustments on cash, debt and taxes, the filing said. "The breakup of consideration is $45 million upfront payout, up to $45 million of earnouts and up to $30 million outperformance earnout bonus," the filing said. The acquisition does not require any governmental or regulatory approvals and was closed on the same day of the announcement, the company said. Hexaware expects to deliver end-to-end solutions for clients looking to optimize and scale their GCC operations with this acquisition.
