New Delhi, July 17 -- Hexaware Technologies, a global provider of IT solutions and services, on Thursday, announced the acquisition of SMC Squared, a firm that specialises in optimising global workforces for companies. The acquisition is aimed at expanding the company's presence in India's rapidly growing Global Capability Centre (GCC) market. GCCs are offshore units established by multinational corporations to perform a range of strategic functions. According to an exchange filing, Hexaware said that it has signed two separate share purchase agreements to acquire Tech SMC Square India Private and Tech SMC Squared (GCC) India. The acquisition, valued at up to $120 million (nearly Rs.1,029 crore), will be an all-cash transaction and the deal is expected to close on July 17, 2025.

"Hexaware's newly launched GCC 2.01 service line aims to drive long-term value for global clients by blending SMC Squared's proven GCC build-operate expertise with Hexaware's platform-led IT delivery capabilities, providing clients with a differentiated proposition that combines AI and digital innovation with strategic GCC value," it added.

SMC Squared operates through engagement models, such as managed services, build-optimise-transfer, and hybrid solutions, which lower operating costs while assembling GCC teams that act as seamless extensions of every client's strategic agenda. The company also has a workforce of around 500 employees, with a go-to-market office in the US and delivery centres in Bengaluru and Hyderabad.

Within India, the GCC segment is witnessing exponential growth, with the market projected to exceed $100 billion by 2030. This presents a significant opportunity for Hexaware to expand its footprint and deepen its capabilities in the space.

By acquiring SMC, Hexaware gains SMC's GCC expertise, which in turn can accelerate Hexaware's go-to-market strategy. Hexaware will extend SMC's offerings to its broader client base, including existing customers. By integrating SMC's GCC setup capabilities with Hexaware's strengths in AI, analytics, cloud transformation, modernisation, and enterprise platforms, the company can deliver end-to-end solutions for clients aiming to optimise and scale their GCC operations.

The collaboration also brings together SMC's GCC expertise with Hexaware's technology-led delivery model to offer world-class GCC operations and attract top-tier tech talent.

SMC Squared works with global brands across commerce, manufacturing, financial services, health care, and consumer brands. Among SMC's clients is Papa John's International, Inc. (PZZA), operating global quick-service restaurants with a significant international presence, including India.

Last week, Hexaware partnered with Abluva, an AI security services provider, to offer secure AI solutions for the life sciences sector. The partnership aims to tackle the security challenges posed by autonomous AI systems, which are vital for drug discovery, clinical trials, patient data management, and commercial operations in the industry.

Published by HT Digital Content Services with permission from TechCircle.