Hexaware Tech Buys GCC Builder SMC Squared
The all-cash deal, with potential earnouts of up to $120 million, combines proven GCC expertise with Hexaware’s AI and platform-led delivery model
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Hexaware Technologies has acquired SMC Squared, a leader in building global capability centers (GCCs), in a $90 million all-cash deal to strengthen its next-generation GCC 2.0 offering.
The acquisition covers SMC Squared’s operations in India and the US, bringing into Hexaware a team with over a decade of experience in setting up more than 30 GCCs for Fortune 500 firms and multinational firms.
SMC Squared’s co-founders Patricia Connolly and Steven Stephan will continue to lead the business under the Hexaware umbrella, retaining its brand identity as part of the new GCC 2.0 service line.
“With SMC Squared, we gain proven governance, delivery credibility, and scale in areas where execution strength is non-negotiable,” said Amrinder Singh, President and Head of EMEA & APAC Operations at Hexaware. “This acquisition enables us to deliver long-term value to enterprises, leveraging our human and digital agent-driven model and proprietary IT delivery platforms.”
Hexaware’s GCC 2.0 proposition blends SMC Squared’s build-operate-transfer expertise with Hexaware’s platform-led, AI-powered delivery. The service is designed to help enterprises move beyond cost efficiency, establishing GCCs as strategic, value-generating centers.
Patricia Connolly, CEO of SMC Squared, called the move a natural evolution.
“For over a decade, we’ve helped shape the GCC industry, and this acquisition expands what we can deliver globally with strengthened capabilities across AI, analytics, modernization, cloud transformation, and enterprise platforms,” she said.
The acquisition comes at a time when India’s GCC market is expected to exceed $100 billion by 2030, according to Nasscom-Zinnov.
Hexaware believes the combined offering will unlock synergies across its large enterprise client base, delivering advisory, setup, operations, and optimization services under one stack.
Among SMC Squared’s global clients is Papa John’s International, which credited its GCC partnership with transforming ERP and analytics capabilities.
“Partnering with SMC to build our dedicated GCC team has been a transformative experience,” said Michael Wyant, Vice President of Corporate Systems & Enterprise Data at Papa John’s. “We look forward to working together, now with Hexaware, to accelerate modernization.”
Hexaware expects the acquisition to deepen its presence in key markets, expand its delivery footprint into Latin America, and enhance client activity in Europe and the UK.
With this move, Hexaware signals its commitment to redefining how enterprises approach global delivery — with GCCs that are smarter, strategic, and future-proof.
