CCI approves Carlyle’s $3 bn Hexaware bid

The Competition Commission of India (CCI) on Tuesday approved global private equity firm Carlyle Group’s bid to acquire Baring Private Equity Asia's (BPEA) Indian portfolio Hexaware Technologies. The deal is expected to be in the range of $3 billion. 

BPEA bought a controlling stake in Hexaware in 2013 for about $420 million and took the company private from the local stock exchanges late last year.

Hexaware provides automation, cloud and customer services-related technology to a wide range of industries including finance, education, hospitality and manufacturing. However, migration to the Cloud is a complex journey.

Hexaware Technologies is currently enabling organizations to seamlessly transition from the new normal to the next. “Leveraging the power of big data, artificial intelligence (AI) and robotic process automation (RPA), we have created three unique platforms to transform customer experiences, while generating substantial cost savings that can be reinvested in strengthening the core business,” the company said in its annual report 2020.