As per the terms of the Agreement, Hexaware paid US$ 25 mn in cash towards acquisition of 100% shares of FocusFrame along with its employees and consultant base of over 200 personnel. The balance amount of US$ 9.3 mn being paid out over 24 months contingent on achieving the projected revenue and margin targets. FocusFrame co-founders - Vaughn Paladin and Suri Chawla - will continue to run the operations as a wholly owned subsidiary of Hexaware Technologies Ltd.
FocusFrame Inc is expected to raise the strength of Hexaware's Testing Practice Consultants to 600. FocusFrame has 9 Fortune 500 companies and 7 'million dollar' companies in its existing client list. Since the acquisition closed in November 2006, the December revenues for FocusFrame will be added in Hexaware's revenue for the quarter ending December 31, 2006.
