Hexaware Technologies, a global leader in digital solutions, and Novelty Group, a prominent business group of the United Arab Emirates (UAE), have recently announced a joint venture (JV) to deliver cutting-edge digital transformation services to UAE-based enterprises across diverse sectors like banking, financial services, manufacturing, energy and utilities, healthcare, insurance, hi-tech products & platforms, retail & consumer, logistics and travel & hospitality.
Industry sources added that this strategic partnership focuses on leveraging Hexaware’s technological capabilities and Novelty Group’s local presence and market understanding. Under this joint venture, Hexaware Technologies brings its extensive expertise in digital managed services, generative AI, cloud, digital & software, enterprise automation, data & AI, and business process services.
Industry sources added that Hexaware focuses on powering an impactful change in the UAE market by leveraging its strategic global partnerships with industry-leading technology giants like AWS, Microsoft, Google, Guidewire, Snowflake, Backbase, and Oracle, among others.
Industry sources further added that Hexaware has a robust track record of delivering cutting-edge digital transformation solutions across the globe and aims to leverage this experience and help UAE-based firms transition to the digital world faster in a very secure and cost-effective way.
R Srikrishna, Chief Executive Officer & Executive Director of Hexaware Technologies stated “We are thrilled to embark on this transformative journey with Novelty Group. This joint venture represents a strategic alignment of our technological prowess with Novelty Group’s expertise, aimed at delivering unparalleled value to UAE based enterprises. Together, we are committed to driving innovation and fostering sustainable, technology-empowered futures for businesses. We aim to make use of the UAE’s increasing and diverse talent pool and make cutting edge digital solutions available locally and are committed to bring investments to the UAE.”
Abdul Raouf Al Mubarak, Chairman of Novelty Group, echoed similar sentiments, stating, “Our partnership with Hexaware Technologies marks a significant milestone in our commitment to driving digital innovation. Combining Hexaware’s global technological capabilities with Novelty Group’s insights, we aim to revolutionize enterprise solutions across diverse sectors. Together, we look forward to creating transformative digital experiences for businesses across the UAE.”
Industry sources further added that Novelty Group, with its deep-rooted understanding of the UAE business landscape and industry-specific insights will serve as an invaluable partner in this joint venture. Their strong presence across the UAE will deliver key insights and support in navigating the needs of this market and ensure the success of this venture across its target client base.
Industry sources added that this aspiration to keep expanding and boosting UAE’s diverse industry sectors by successfully leveraging the local talent pool, and the Emiratization of IT services across the UAE market will drive this collaboration with Hexaware Technologies.
This joint venture represents a convergence of global technological expertise and business insights, poised to redefine the digital landscape in the UAE market. Miller Hill Advisors, an international investment banking firm, and Ignite Excellence Advisory, a UAE-based management advisory firm, have facilitated this joint venture. Miller Hill Advisors will act as the financial advisor for this joint venture.
