Carlyle Group to acquire Hexaware
American multinational private firm Carlyle Group is set to acquire India-based IT services company Hexaware Technologies from Baring Private Equity for around US$3 billion, said Reuters.
Hexaware was established by engineer Atul K Nishar in 1990 and later sold the tech firm to Baring for US$420 million.
Under Barings’ leadership, the Indian IT company’s annual revenue increased, exceeding US$845 million in 2020.
Hexaware’s clients include American companies such as CitiBank, Freddie Mac, and Fannie Mae. It runs over 37 centers across the world, becoming the first Indian IT services provider to provide cloud to its customers.
Reuters further reported that French outsourcing firm Teleperformance was among the bidders for the company.
