Baring Asia set to accept USD 3 bn Carlyle offer for Hexaware
Summary
After taking Hexaware private in November 2020, in late April this year, Baring put the company on the block. Under the leadership of Nishar, Hexaware has grown into a multi-million dollar global software and BPO services corporation and was a publicly traded company. Late last month Baring had shortlisted from around 10 bids Carlyle, KKR, Bain and the French Teleperformance for Hexaware, whic provides automation, cloud and customer services-related technology to a wide range of industries, including finance, education, hospitality and manufacturing. Carlyle was very active in the country over the past 18 months, sewing up deals with the Piramal group, Bharti Airtels data centre business, PNB Housing Finance and Sequent Scientific. The Indian portfolio of Barings Asia includes firms such as Virtusa, Citius Tech, Coforge (erstwhile NIIT Technologies), CMS, AGS Health and RBS Bank.