Hexaware Technologies Limited has announced the upcoming merger of its wholly owned step-down subsidiaries, Mobiquity Velocity Solutions Inc. and Mobiquity Inc., into another wholly owned subsidiary, Hexaware Technologies Inc. The merger is set to be effective from January 01, 2026, following the approval received from the New Jersey Division of Revenue. Mobiquity Velocity Solutions Inc. has a reported turnover of NIL, while Mobiquity Inc. had a turnover of USD 40,087,700 (₹333.98 crore) in revenue from operations. Both transferor companies are engaged in providing mobile technology solutions and end-to-end omnichannel digital consulting services. The rationale for the merger is that all involved entities operate under the same control and management and are engaged in complementary areas of technology-enabled services. The merger is expected to benefit the companies, their shareholders, creditors, employees, and other stakeholders. As these are wholly owned subsidiaries of the transferee company, no cash consideration is involved, and there will be no change in the shareholding pattern of Hexaware Technologies Limited.
