TLDR: Hexaware Technologies has acquired US-based CyberSolve for $66 million to significantly enhance its cybersecurity capabilities, particularly in identity access management. The strategic move comes amidst a growing landscape of AI-driven cyber threats and aims to expand Hexaware’s service offerings to a broader client base, tapping into the rapidly expanding identity and access management market.
Hexaware Technologies, a global IT services company, has announced the acquisition of CyberSolve, a U.S.-based specialist in identity access management (IAM) solutions, for a total consideration of $66 million. This strategic acquisition is set to bolster Hexaware’s cybersecurity portfolio and expand its presence in the fast-growing identity and access management market.
The deal structure involves an upfront payment of $34.5 million, with the remaining amount to be paid as milestone payments contingent on certain performance criteria. CyberSolve, founded in 2016, brings a wealth of expertise to Hexaware, including over 230 IAM specialists, more than 20 IAM technology alliances, and a track record of over 650 implementations across various sectors. The company offers comprehensive services in identity management, identity governance, access management, and privileged access control.
Siddharth Dhar, Hexaware’s President and Global Head of Digital IT Operations and AI, emphasized the strategic fit of the acquisition. “They have built a deep expertise in identity over the years and between us there is no common customer in the Fortune 1,000 space. We can take CyberSolve’s capability to our customers and also take our portfolio of services to theirs,” Dhar stated. This integration is expected to create significant cross-selling opportunities and enhance Hexaware’s ability to serve a wider range of clients.
The acquisition is particularly timely given the current cybersecurity landscape, characterized by a surge in AI-driven global cyber threats. By integrating CyberSolve’s specialized IAM capabilities, Hexaware aims to position itself as a full-spectrum cybersecurity partner, addressing critical client needs in an increasingly complex threat environment. The identity and access management market is projected to reach approximately $100 billion by 2033, underscoring the long-term strategic value of this acquisition.
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Hexaware also recently reported strong financial results for Q3 2025, with revenue growing 5.50% year-over-year to $394.80 million and EBITDA increasing by 15.60% year-over-year to $69.30 million. The company’s EBITDA margin expanded by 154 basis points to 17.50%, with the financial services segment leading growth at 12.20% year-over-year. This acquisition is expected to further contribute to Hexaware’s growth trajectory and strengthen its market position in the cybersecurity domain.
