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Hexaware Technologies Ltd.

BSE: 532129 Sector: IT
NSE: HEXAWARE ISIN Code: INE093A01033
BSE LIVE 15:40 | 15 Dec 321.40 -3.85
(-1.18%)
OPEN

330.00

HIGH

330.00

LOW

319.25

NSE 15:59 | 15 Dec 320.40 -5.35
(-1.64%)
OPEN

328.20

HIGH

330.00

LOW

318.15

OPEN 330.00
PREVIOUS CLOSE 325.25
VOLUME 63153
52-Week high 349.40
52-Week low 187.50
P/E 22.60
Mkt Cap.(Rs cr) 9,539
Buy Price 0.00
Buy Qty 0.00
Sell Price 321.40
Sell Qty 5.00
OPEN 330.00
CLOSE 325.25
VOLUME 63153
52-Week high 349.40
52-Week low 187.50
P/E 22.60
Mkt Cap.(Rs cr) 9,539
Buy Price 0.00
Buy Qty 0.00
Sell Price 321.40
Sell Qty 5.00

Hexaware Technologies Ltd. (HEXAWARE) - Company History

Hexaware Technologies Limited was incorporated in 20th November of the year 1992 as a public limited Company under the name `Aptech Information Systems Ltd'. It is a leading global provider of IT and BPO services, focusing on delivering real business results from technology solutions and specializing in Business Intelligence, Business Analytics, Enterprise Applications, Transportation, HR-IT and Legacy Modernization. Industry focus is on Banking and Financial Services, Insurance, Leasing and Transportation. The Company maintains six state-of-the-art development centers, four in India and one each in Germany and Mexico, and offices in North America, Europe and Asia Pacific. Hexaware is committed to quality; all development centers are assessed at SEI CMMI Level 5 and also certified ISO 9001:2000, BS 7799, TickIT and SAS 70 Type 1. During the year 1993, the company added two new product lines called ARENA for training in computer Graphics Animation, Publishing & Multimedia and ASSET for Training engineers for software Export careers. As per the scheme of Arrangement & Reconstruction between Apple Finance Ltd and the company the erstwhile Information Technology division of Apple Finance Ltd was transferred to the company with effect from 1st July of the year 1995. In the same year 1995, Hexaware started its operations in North America and Europe. The Company entered into a tie-up agreement with M/s. Forte Inc. USA to distribute the range of Forte's products in India to provide systems Integrated Services to the clients all over Asia. The name of the Company was changed to Aptech Ltd from Aptech Information System Ltd effective from 5th August of the year 1996. During the year 1997, the company established an Airlines Practice and won the first client for Airlines Practice 'Air Canada' in the same period. Development centers of the company were established at Mumbai and Chennai with an overseas branch at Princeton during the year of 1998. Also in the same year, overseas operations in the US expand to Chicago, Pleasanton in the USA and Montreal in Canada, Shifted in focus to a more broad service spectrum that included Enterprise Application Integration, Application Management and key areas within e-Commerce and Partnerships established with global technology giants like IBM, BEA Systems, Vitria, Constellar help Hexaware deliver a suite of innovative technology solutions, business platforms and tools to clients, enhancing their profitability. The Company entered into collaboration with TACK Training International, UK, to offer TACK's training services to the Indian corporate peoples in the year 1998. Established the Insurance Practice in the year 1999 and achieved the SEI CMM - Level 4 assessment in the identical year for ODC's. After a year, in 2000, the company's ODC's assessed at SEI CMM - Level 5 and also Hexaware made a partnership with PeopleSoft in India, it was a major milestone in the partnership. During the year 2001, merged with the software division of Aptech, leaders in software training and development. This merged entity later demerged from the training arm and is now called Hexaware Technologies Limited, forming one of the largest high-end software companies in India and Hexaware goes public in January of the year 2001. The Company had sets up Design Lab for Embedded Systems Practice in July of the year 2002. Hexaware launched BPO practice in late 2002 and also in the same year partnership with PeopleSoft in the ASEAN region. The name of the company was changed from Aptech Ltd to Hexaware Technologies Ltd in the year 2002. During the year 2003, Hexaware signed up with Temenos, a leading banking solutions provider in January. Won the partnership engagement for setting up and managing PeopleSoft India Service Center in Bangalore and also in the identical year the Rational Center for Excellence was inaugurated. Hexaware opened a new office and proximity center in Germany in the year 2004. The Company achieved BS 7799 certification for Information Security. During the same year 2004, Hexaware launched SAP Practice, won first major SAP Implementation project and also launched Oracle Practice consolidating as a global provider of Enterprise Solutions. A dedicated Business Intelligence / Data Warehousing Lab was set up in Chennai. The Company ranked 11th in NASSCOM Top 20 in the year 2005 and in the same year Hexaware opened office in Japan. In 2006, Hexaware selected Fluensee as Partner for RFID-Enabled Asset Tracking Solutions and in the same year 2006, the company acquired FocusFrame, a US based specialized testing consulting firm. The Company expanded its physical presence and commenced work in Siruseri, Chennai. As of June 2007, Hexaware selected by a major System Integrator in Japan to develop a core bespoke application for the IT modernization of the Postal department of a South East Asian country. Hexaware launched a joint venture Risk Technology International Limited in 2007, where the company owns 85% stake. During October 2007, Hexaware bagged a contract worth Euro 5 million from a leading German financial institution. In November of the year 2007, the company inaugurated its second development center in Saltillo, Mexico. Hexaware arm RiskTech bagged three new contracts in July of the year 2008, a subsidiary and a leading provider of enterprise risk management and risk technology services has won three new consulting and implementation contracts in UK and Middle East. The Company entered into an agreement with General Atlantic. According to the agreement, the latter would invest USD 67.6 million through a preferential allotment. The company plans to utilize the proceeds of the allotment for creating infrastructure assets, enabling suitable acquisitions and meeting working capital needs of the company. This will facilitate the company in sustaining growth in the long term and also help it in realizing new growth opportunities in USA.