Baring Private Equity Asia had finalized its purchase of a 41.47% ownership stake of Hexaware Technologies. Baring acquired the stake from GA Global Investment, a promoter of the India-based outsourcing firm. As a result of the deal, Chairman Atul Nishar-headed GA Global Investment would no longer promote for Hexaware Technologies anymore. Jimmi Mahtani and Kosmo Kalliarekos had been nominated by Baring and subsequently joined the Board of Directors of Hexaware Technologies. GA Global is an affiliate company of General Atlantic.

In August, Hexaware announced that Baring would be putting out a buyout offer to the firm at INR 1.6 million. The promoter entity led by Nishar formerly held a 27.7% stake in the company's outstanding share capital, while GA Global Investments owned a14.1% ownership share. The terms of the share purchase agreement stated that Baring would be paying INR 126 each for every Hexaware share.

A regulatory filing revealed that the buyout was advised by Morgan Stanley, with Credit Suisse acting as co-advisor.