Hexaware Technologies Initiates Mediation for $9 Million European Client Receivables

Hexaware Technologies , a global IT solutions company, has recently taken a significant step in addressing a financial dispute with one of its European clients. The company has initiated mediation proceedings regarding $9 million in receivables, demonstrating its commitment to resolving the issue through a structured process.

Key Details of the Mediation Process

Aspect	Details
Opposing Party	Client based in Europe
Mediation Agency	Located in the US
Claim Amount	USD 9.00 million
Financial Implications	Fully provided for, no downside risk
Expected Outcome	Company anticipates a favorable result

Background and Implications

The dispute, which was initially disclosed during an earnings call following the board meeting on July 24, 2023, has now progressed to a formal mediation process. Both Hexaware Technologies and the European client have filed a mediation application with a US-based Mediation Agency, signaling a mutual intent to resolve the matter amicably.

Financial Considerations

Hexaware has taken a prudent approach to this situation:

The company has fully provided for the claimed amount of $9.00 million.
Management states there is no downside risk associated with this dispute.
Hexaware expresses optimism, indicating that a favorable outcome could be profit-accretive.

Looking Ahead

While the mediation process is underway, Hexaware Technologies continues to focus on its core business operations. The company recently appointed Eravi Gopan as President and Global Head of High Tech, Products, and Platforms, showcasing its commitment to growth and innovation in the tech sector.

Investors and stakeholders will be keenly watching the outcome of this mediation, as a positive resolution could potentially boost the company's financial position. However, it's important to note that the process and its timeline remain subject to the mediation proceedings.

Hexaware Technologies maintains its transparency with investors, having disclosed this information in compliance with SEBI regulations. The company's proactive approach to addressing and resolving client disputes reflects its commitment to maintaining strong business relationships and financial integrity.

As the situation develops, further updates are expected to be provided through appropriate channels, keeping stakeholders informed of any material developments in this matter.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.66%	+1.39%	+3.04%	+5.54%	-4.90%	+208.43%

Hexaware Technologies , a global IT solutions company, has announced a significant addition to its leadership team. Eravi Gopan has been appointed as President and Global Head of the High Tech, Products, and Platforms division, marking a strategic move to strengthen the company's position in these key areas.

Key Appointment Details

Position	Appointee	Responsibility
President and Global Head – High Tech, Products, and Platforms	Eravi Gopan	Lead global strategy, growth, and client success initiatives across the vertical

Gopan's Expertise and Background

Eravi Gopan brings a wealth of experience to Hexaware, with a strong background in SaaS, AI, and technology services. His career highlights include:

Served as Chief Revenue Officer at a Google Ventures-backed SaaS platform
Held the position of Chief Commercial Officer at an Accel Ventures-backed enterprise AI startup
Spent significant time at Wipro, where he:
- Built several first-time businesses across diverse industry verticals
- Was part of the senior leadership team that scaled Wipro's global technology business
- Served as Global Business Head for Platforms and Software Products

Strategic Implications

The appointment of Gopan aligns with Hexaware's focus on:

Driving AI adoption
Modernizing platforms
Accelerating new product introductions
Delivering measurable outcomes for clients

Hexaware aims to leverage its offerings in AI and cloud lifecycle to enable software, platform, and high-tech companies to improve velocity, reliability, and unit economics while enhancing end-customer experiences.

Leadership Perspectives

R Srikrishna, CEO & Executive Director of Hexaware, commented on the appointment: "Eravi's blend of SaaS and AI leadership, across startups and large enterprises, is exactly what our clients need as platform partnerships and AI-driven delivery become standard. He will help scale our High Tech, Products, and Platforms business with a clear focus on customer value."

Eravi Gopan expressed his enthusiasm about joining Hexaware: "I'm honored and excited to lead Hexaware's High Tech, Products, and Platforms business at this pivotal moment. Backed by Carlyle and driven by exceptional talent, Hexaware stands at the intersection of technology, enterprise transformation, AI innovation, and outcomes. We have a tremendous opportunity to accelerate growth, both for Hexaware and our customers, by building a powerful, symbiotic ecosystem with the world's leading technology and AI platforms."

This strategic appointment underscores Hexaware's commitment to strengthening its domain leadership and scaling vertical-centric growth to address the evolving needs of its global clientele in the rapidly changing landscape of technology and AI-driven solutions.