Hexaware buys FocusFrame
Hexaware Technologies has completed the acquisition of FocusFrame Inc, a US-based testing consulting firm. FocusFrame Inc — acquired in an all cash deal for $34.3 million (Rs 154.35 crore) — has become a wholly owned subsidiary of Hexaware Technologies Ltd, said a company statement.
The acquisition, announced in November, will add about $2 million (Rs 9 crore) to the company’s revenues in the current quarter, said Mr Atul Nishar, Executive Chairman, Hexaware. It paid $25 million (Rs 112.5 crore) in cash for acquiring 100 per cent shares of FocusFrame along with its employees and consultant base of over 200 personnel. The balance amount of $9.3 million (Rs 41.85 crore) will be paid out over 24 months on meeting the projected revenues and margin.
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