Hexaware Technologies to Acquire CyberSolve for $66 Million; Stock Slips 3.5%

Mumbai, November 7, 2025: The share price of Hexaware Technologies Ltd fell 3.55% to ₹674.55 as of 2:11 PM on Friday, following the announcement of a $66 million (₹585.2 crore) acquisition of CyberSolve (I) Pvt Ltd and its affiliated entities.

Acquisition Details

Hexaware’s board approved the purchase of a 100% stake in CyberSolve (I) Pvt Ltd from Identity and Access Solutions LLC, along with its US and Canada affiliates. The total deal value is $66 million, including an upfront payment of $34.5 million (₹305.9 crore) and a performance-linked payout of $31.5 million (₹279.3 crore) over FY26–FY28. The acquisition is expected to close by November 13, 2025, with all payments to be made in cash.

Target Companies Overview

The acquisition covers four entities: CyberSolve (I) Pvt Ltd (India), Identity & Access Solutions LLC (USA), IT Glitterz LLC (USA), and Identity & Access Solutions Canada Inc (Canada). Collectively, these companies reported total revenue of $25.8 million (₹216.1 crore) for CY2024, with a nine-month FY25 turnover of $18.5 million (₹160.3 crore).

Strategic Rationale

Hexaware’s acquisition enhances its footprint in the Identity and Access Management (IAM) space. Positioned as a full-spectrum cybersecurity partner, the integration is expected to boost its digital transformation offerings and expand its presence across North America.

Share Price Update

As of 2:11 PM, Hexaware Technologies shares were trading at ₹674, which was a 3.55% decline. The shares have dipped 11% in the last year,  1.69% in the last six months, and 2.24% in the last 5 days.

REF: https://nsearchives.nseindia.com/corporate/HEXAWARETECH_06112025231907_outcome_B_merged.pdf

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