Hexaware Technologies: Win Some, Lose Some

A high growth company, Hexaware added 38 new clients to its roster. This took
its active clients tally to 107, with 25 of them belonging to the $1 mn-plus
category; 15 of these were Fortune 500 companies. During FY 2004-05 Hexaware
invested Rs 5 crore to launch its BPO subsidiary Caliber Point.

The company spruced up its infrastructure during the year-it set up a
nearshore facility in Germany, besides adding another offshore center at Chennai.
It also emerged as the largest offshore vendor for HR-IT solutions with 22% of
its revenues coming from this sector. On the flip side, following the Oracle
acquisition of PeopleSoft, Hexaware perennially remained under the threat of an
Oracle takeover of its India Services Center (ISC) for PeopleSoft suite of
products; this center incidentally was the largest third-party product support
center globally.