In a strategic move aimed at strengthening its position in enterprise consulting and AI-driven digital transformation, Hexaware Technologies has announced the acquisition of UK and UAE-based Consulting Professionals Services (CPS). The deal marks another significant step in Hexaware’s broader push to deepen its advisory-led capabilities for global financial services clients navigating increasingly complex technology and compliance landscapes.
The Mumbai-headquartered IT services company confirmed on May 19 that it has entered into an agreement to acquire CPS, a consulting and professional services firm known for its expertise in regulatory compliance, governance, risk management, infrastructure modernization, and business transformation. The transaction is expected to close within the next two weeks, although financial details have not been disclosed.
The acquisition is expected to significantly enhance Hexaware’s consulting depth in high-value financial services transformation projects, particularly across AI, cloud engineering, governance, and enterprise modernization initiatives. CPS has built a strong reputation serving a major FTSE 100 client, positioning the firm as a trusted advisor in highly regulated sectors where operational resilience and compliance remain mission critical.
Industry analysts view the acquisition as part of a larger shift unfolding across the global IT services market, where companies are moving beyond traditional outsourcing models and investing aggressively in advisory-led transformation services. As enterprises accelerate AI adoption and cloud migration, demand is rapidly growing for consulting partners that can combine implementation expertise with governance, compliance, and strategic transformation capabilities.
For Hexaware, the acquisition offers more than just expanded consulting services. It also deepens the company’s relationship with an existing FTSE 100 customer, where Hexaware is already among the top IT service providers. By integrating CPS’s specialized consulting expertise into its broader delivery ecosystem, the company is expected to secure a larger share of enterprise technology spending from the client while creating new opportunities in adjacent markets.
Speaking on the acquisition, Parameshwaran Iyer, Country Head for UK and Ireland at Hexaware, emphasized the strategic value of CPS’s talent and domain expertise.
“The addition of CPS strengthens our consulting capabilities and provides access to high-performance talent across the UAE and UK markets. This enhances our credibility in program assurance and cloud engineering as we continue expanding our delivery footprint and workforce diversity,” he said.
The acquisition also reflects the growing importance of regional consulting expertise in large-scale transformation projects. Financial institutions worldwide are increasingly prioritizing partners that understand both local regulatory frameworks and global technology modernization requirements. With CPS’s strong presence in the UK and UAE, Hexaware is expected to gain greater proximity to key enterprise customers in two strategically important financial hubs.
CPS leadership also expressed optimism about the opportunities the transaction will unlock for clients and employees alike. Amjad Riaz, Managing Partner at CPS, noted that the partnership would enable the firm to deliver broader and more integrated solutions to enterprise customers.
“Having worked extensively in the financial services and market infrastructure sectors for many years, we believe joining forces with Hexaware will help us create greater value for clients by leveraging the wider capabilities and global scale of the organization,” Riaz said.
The move comes at a time when AI transformation mandates are becoming increasingly sophisticated. Enterprises are no longer seeking technology vendors solely for implementation support. Instead, they are looking for strategic transformation partners capable of managing end-to-end modernization journeys — from advisory and governance to AI deployment, cloud migration, cybersecurity, and ongoing operations.
This evolving market dynamic has triggered a wave of targeted acquisitions across the IT services industry. Mid-sized and large technology firms alike are actively pursuing niche consulting companies, domain specialists, and AI-focused firms to strengthen their positioning in high-growth sectors such as banking, insurance, healthcare, and financial infrastructure.
For Hexaware, the CPS acquisition aligns closely with its ambition to evolve into a larger AI and cloud transformation partner for blue-chip enterprises worldwide. By integrating consulting, engineering, and operational capabilities under one umbrella, the company aims to compete more effectively for complex enterprise transformation programs that require both strategic vision and technical execution.
The timing of the acquisition also coincides with strong financial momentum for Hexaware. The company recently reported revenue of ₹3,613 crore for the quarter ended March 31, while net profit rose 7.5% year-on-year to ₹351.6 crore, signaling continued demand for its digital transformation and technology services portfolio.
As global enterprises continue accelerating investments in AI, cloud infrastructure, and compliance modernization, acquisitions like this are likely to become increasingly common. For Hexaware, the addition of CPS not only strengthens its consulting credentials but also positions the company to capture a greater share of the next generation of enterprise transformation spending.
With regulatory expectations rising and AI adoption reshaping industries worldwide, the partnership between Hexaware and CPS could emerge as a significant force in the evolving global financial technology consulting landscape.
About Hexaware Technologies
Hexaware Technologies is a global IT and digital transformation company headquartered in Mumbai, India, known for delivering AI-powered automation, cloud transformation, data modernization, and enterprise technology services to clients across industries, including banking, healthcare, travel, and financial services. The company has built a strong reputation for combining automation-first strategies with deep engineering expertise to help enterprises accelerate digital innovation and operational efficiency. With a growing global delivery footprint and expanding investments in AI, cloud engineering, and consulting-led services, Hexaware continues to position itself as a next-generation technology transformation partner for large enterprises worldwide.
About Consulting Professionals Services (CPS)
Consulting Professionals Services (CPS) is a UK and UAE-based consulting and professional services firm specializing in regulatory compliance, governance, risk management, business transformation, and technology infrastructure solutions for large enterprises, particularly within the financial services sector. The firm is recognized for its expertise in supporting highly regulated organizations with strategic advisory services, program assurance, and operational transformation initiatives. Serving major enterprise and FTSE 100 clients, CPS has developed strong capabilities in navigating complex regulatory environments while helping organizations modernize technology systems and strengthen business resilience.
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