Hexaware Technologies has signed an agreement to acquire the UK- and the UAE-based consulting firm Consulting Professionals Services Holdings Limited (CPS) in a deal valued at up to £11 million (about Rs 140 crore), as the IT services company looks to strengthen its presence in cloud and AI-led transformation projects for large global clients.
The Mumbai-headquartered company said the acquisition, to be carried out through its wholly owned subsidiary Hexaware Technologies UK Ltd, is expected to close within two weeks. The deal includes an upfront payment of £6 million, while another £5 million is linked to financial performance targets.
