India's Hexaware Technologies buys U.S.-based Mobiquity for $182 mln

BENGALURU, June 14 (Reuters) - Indian IT services company Hexaware Technologies Ltd said on Friday it bought privately owned Mobiquity Inc for $182 million, to expand its cloud and automation service offerings.

The deal will help Mumbai-based Hexaware gain traction in its banking and pharmaceutical verticals, through Mobiquity's digital products.

Hexaware will pay $131 million upfront to Mobiquity and a deferred consideration of $51 million will be paid based on earnouts, the company said https://www.bseindia.com/xml-data/corpfiling/AttachLive/aae7202f-a793-469e-8a3b-f85bd394dd06.pdf.

U.S.-based Mobiquity makes products for partners including Amazon's AWS and Netherlands-headquartered software company Bankbase. (Reporting by Derek Francis in Bengaluru; Editing by Subhranshu Sahu)