May - 2007 issue > Cover Story

By Pradeep Shankar

Hardly did the designers of Hexaware’s logo—a red, white and blue combination, knew it would reveal something of the company’s business. Atul Nishar, the Chairman, who touts Hexaware as “an American company as much as it is Indian,” gets a stir of this every morning as he looks at this red, white and blue—symbolic colors of the American Flag!

Hexaware is a remarkable story of a company that has believed in focusing on a few things and getting them right. That takes a lot of foresight and courage. And Hexaware’s founder and Chairman Atul Nishar has clearly demonstrated what it means to be sharply focused.

The strategy has worked. In all of the areas that Hexaware focuses on, it is better positioned than its competitors and beats competition from any of the Indian IT service providers. The company saw itself positioned in Gartner`s Magic Quadrant for Offshore Application Services 2006 as well as Gartner`s Magic Quadrant for North American ERP Service Providers, 2006. This speaks of the business process understanding, industry knowledge, technical skills, and project and program management skills that Hexaware possesses.

17 years since founding, Hexaware’s mantra hasn’t changed: focus on the niche segments, build a world class team of domain experts and deliver the best. What has changed is the size: close to 6000 employees globally, 12th largest exporter of software service and 151 clients. In the last calendar year, the company clocked revenues of $187.22 million with a profit of $27.44 million. The first quarter for 2007 was marked by significant strong order book and a robust client acquisition—both being the highest reported in any quarter. Revenue from operations stood at $60.11 million and profit at $8.02 million.

“Hexaware’s highly focused strategy makes it an effective competitor in the global market,” says Mark F Dzialga, Managing Director of General Atlantic. Last year, GA invested $68 million for a 15 percent stake in Hexaware. “GA is a long term investor that looks to provide capital and strategic expertise to companies in high growth markets with strong management teams,” says Dzialga.

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