Hexaware Technologies, a leading global IT and business process services firm, has announced the strategic acquisition of SMC Squared for ₹1,029 crore ($120 million). The move is aimed at significantly bolstering Hexaware’s Global Capability Centre (GCC) offerings by integrating digital transformation, AI capabilities, and a human-centric delivery model.
A Strategic Step Towards GCC 2.01 Vision
This acquisition marks a critical milestone in Hexaware’s recently launched GCC 2.01 service line, which blends SMC Squared’s build-operate-transfer (BOT) and managed services expertise with Hexaware’s platform-driven IT capabilities. The new model is designed to drive future-ready, value-driven, and innovation-led GCCs that go beyond mere cost arbitrage.
“Our partnership with SMC Squared reflects a shared vision to deliver GCCs of the future — where AI, talent, and digital engineering come together to power strategic business growth,” said a senior Hexaware executive.
SMC Squared’s Proven Operating Model
SMC Squared specializes in setting up high-performance GCC teams across managed services, BOT, and hybrid models. These teams function as strategic extensions of clients’ global operations, helping lower costs while aligning with long-term innovation roadmaps.
This acquisition gives Hexaware an edge in offering flexible GCC models, ideal for companies seeking to:
- Optimize their global workforce
- Build digital centers of excellence
- Scale up R&D and engineering capabilities
Financial Snapshot: Strong Performance Amid Expansion
The acquisition news follows a robust quarterly performance by Hexaware:
- Q4 Revenue: ₹3,207.90 crore (up 16.7% YoY)
- Net Profit: ₹327.20 crore (up 17.02% YoY)
- EBITDA: ₹532.20 crore (24.32% YoY growth)
- EBITDA Margin: 16.59% in Q1 (vs. 15.57% last year)
Hexaware Technologies, which follows the January–December fiscal calendar, has seen strong investor interest despite a muted stock market debut in February 2025. Shares closed 1.27% higher at ₹857.45 on the BSE recently, pushing its market cap to ₹52,204 crore.
Driving the Next Wave of GCC Innovation
With this acquisition, Hexaware aims to position itself as the go-to strategic GCC partner for Fortune 500 companies and digital-first businesses. It reflects a broader trend of Indian IT majors moving up the value chain by offering AI-led, high-value GCC models focused on innovation, product engineering, and enterprise transformation.
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