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Hexaware to get a new board after Carlyle acquisition last year

Carlyle Group, a US-based PE firm, bought Baring Private Equity Asia stake in the IT firm for reportedly close to $3 billion last year. The change in board comes at the back of this acquisition. Prior to the acquisition, then promoter Baring de-listed Hexaware from the Indian stock exchanges in November 2020

February 18, 2022 / 08:01 AM IST
CEO, Hexaware

CEO, Hexaware

Mid-tier IT firm Hexaware is all set to get a new board after its acquisition by the private equity firm Carlyle last year with the focus to accelerate growth, said chief executive R Srikrishna.

In October 2021, Carlyle Group, a US-based PE firm, bought Baring Private Equity Asia stake in the IT firm for reportedly close to $3 billion. The change in board comes at the back of this acquisition. Prior to the acquisition, then promoter Baring de-listed Hexaware from the Indian stock exchanges in November 2020.

New board

The new board members, Srikrishna in an interaction with Moneycontrol said, are professionals. However, he did not share more information on the same. As a private entity, he said the company has the flexibility to look at multiple options for growth.