Hexaware: Hexaware acquires Softcrylic; boosts its information and analytics capabilities

Carlyle Group backed Hexaware Applied sciences has acquired Softcrylic, a Minneapolis primarily based information consulting agency. Whereas Hexaware didn’t disclose the financials of the deal, the acquisition would enhance the mid-tier IT agency’s information and analytics capabilities, stated the corporate in an announcement. International funding financial institution, Canaccord Genuity, suggested Softcrylic on the transaction.

The event comes shut on the heels of Carlyle Group reportedly planning for an $1 billion preliminary public supply (IPO) for Hexaware three years after the US primarily based PE agency purchased Baring Personal Fairness Asia stake within the IT agency for near $3 billion in 2021. Earlier than Carlyle acquisition, the then promoter Baring de-listed Hexaware from Indian inventory exchanges in November 2020.

“The acquisition of Softcrylic aligns completely with our imaginative and prescient of turning into a dominant most popular associate for our shoppers’ wants round buyer and advertising analytics,” stated Girish Pai, international head, information and AI at Hexaware. “Softcrylic’s deep information functionality mixed with their advertising analytics experience will allow us to assist our shoppers unlock the facility of their information and drive tangible enterprise outcomes.”

Final 12 months, the mid-tier IT firm appointed former Infosys and Tredence government Girish Pai as the worldwide head of its information and AI service line as a method to spice up its AI capabilities. Hexaware’s FY23 income was at Rs 10,380 crore, up 12.8% on-year. Its web revenue for a similar interval was at Rs 997 crore, up 12.7% on-year. The IT agency has over 30,000 staff at the moment.

John Flavin, CEO, Softcrylic. “We’re assured that our mixed experience will create a powerhouse within the information consulting house.” Softcrylic specialises in tackling advanced information challenges, from information seize and validation to information modeling and activation.

Softcrylic works with most of the most acknowledged manufacturers on the earth throughout journey and hospitality, meals and beverage, retail, monetary companies and sports activities and media.