Hexaware Technologies acquires US-based Focus Frame
Chennai, Dec 5 (UNI) Hexaware Technologies, a leading global IT&BPO services provider, today announced it has successfully completed the acquisition of FocusFrame Inc, a US-based firm specialising in automated testing of ERP and custom applications.
Focus-Frame's business revolves around systems verification, Quality Strategy and IT Governance solutions, and various functional, performance, and system stress verification exercises, a company release here said.
"The addition of FocusFrame is Hexaware's ongoing strategy to strengthen its Testing Service Practice, which is the fastest growing service. Hexaware and FocusFrame together will reinforce their expertise in Independent Testing and Verification services, which is amongst the fastest growing business opportunities for offshore vendors," the release said.
Commenting on the transaction, Atul Nishar, Executive Chairman Hexaware said, "We are very excited with the acquisition. Hexaware will now be in a position to offer a complete lifecycle of Testing service and would be able to achieve more than 100 million US dollar revenue from this practice in the next three years." As per the terms of the agreement, Hexaware paid 25 million US dollar in cash towards acquisition of 100 per cent shares of FocusFrame along with its employees and consultant base of over 200 personnel. The balance amount of 9.3 million US dollars being paid out over 24 months contingent on achieving the projected revenue and margin targets, he said.
FocusFrame co-founders-Vaughn Paladin and Suri Chawla-will continue to run the operations as a fully-owned subsidiary of Hexaware Technologies Ltd, he added. FocusFrame Inc is expected to raise the strength of Hexaware's Testing Practice Consultants to 600.
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