Hexaware Expands Horizons with SMC Squared Acquisition
Deal News | Jul 17, 2025 | PR Newswire Cision Hexaware Technologies Ltd.
Hexaware Technologies, a global provider of IT solutions, has announced the acquisition of SMC Squared, a leading company in the development of Global Capability Centers (GCCs). This acquisition is integral to Hexaware’s strategy to offer more advanced GCC services going beyond mere cost efficiency. With the introduction of its GCC 2.0 service line, Hexaware aims to create significant long-term value for clients by integrating SMC Squared's expertise with its own capabilities in IT delivery, AI, and digital innovation. The acquisition positions Hexaware to leverage the rapidly growing GCC market in India, which is projected to exceed $100 billion by 2030. The integration of both companies is designed to improve the strategic agenda alignment and productivity of GCC teams for clients like Papa John's. Patricia Connolly, CEO of SMC Squared, emphasized that the acquisition will enhance their global deliverable capabilities and expansion into new markets such as Latin America and Europe. This acquisition allows Hexaware to offer a comprehensive GCC services stack supported by proven governance and delivery consistency.
Sectors
- Information Technology Services
- Business Process Outsourcing (BPO)
Geography
- India – India is highlighted as a significant growth market for Global Capability Centers, with its market expected to grow over $100 billion by 2030.
- USA – SMC Squared is based in the USA and Hexaware has operations in Iselin, New Jersey, representing both companies' North American presence.
- United Kingdom – Hexaware operates globally with significant activities and anticipated client growth in the UK and Europe, as noted in the acquisition announcement.
Industry
- Information Technology Services – Hexaware Technologies provides IT solutions and services, and SMC Squared is known for its work in building IT-centric Global Capability Centers.
- Business Process Outsourcing (BPO) – SMC Squared’s operations in building and operating GCCs align with BPO practices, providing managed services and hybrid solutions.
Financials
- $100 billion – The projected size of the Global Capability Center market in India by 2030.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hexaware Technologies | Acquirer | Company | A global provider of IT solutions and business process services, looking to expand its GCC services. |
| SMC Squared | Target | Company | A leader in building and operating Global Capability Centers, known for its expertise in managed services and hybrid models. |
| Amrinder Singh | President & Head – EMEA & APAC Operations | Person | Represents Hexaware, emphasizing the strategic benefits of the acquisition. |
| Patricia Connolly | CEO | Person | CEO of SMC Squared, expressing alignment with Hexaware’s strategic vision. |
| Papa John's International, Inc. | Client | Company | A client of SMC Squared mentioned for its GCC team integration success story. |