Hexaware Comments on Meritless Patent Lawsuit Filed by Natsoft

Hexaware Technologies Limited [NSE: HEXT], a global provider of IT solutions and services, today issued a statement regarding a patent lawsuit filed in the United States by Natsoft Corporation and its affiliate, Updraft LLC, against Hexaware Technologies Limited and its subsidiary, Hexaware Technologies Inc (the "Company"). The Company denies all allegations in the lawsuit and believes these claims are without merit and that it will be vindicated in this litigation on all counts. The Company does not expect this lawsuit to have any material financial or operational impact on the Company.

The Company will vigorously defend its position through proper legal channels and is considering all options available at this time, including a possible challenge to the validity of the asserted patents and a motion to dismiss the complaint lodged against it. The Company is confident that it will prevail on the merits of this legal action.

"Intellectual property disputes are an inevitable part of the technology industry's relentless pace of innovation. Many successful service providers have faced patent claims as they pioneered new solutions and transformed markets. Our clients rely on us to modernize mission-critical systems with speed, safety, and clear outcomes. Nothing about this filing changes that," said Srikrishna Ramakarthikeyan, CEO, Hexaware. "Our platforms are the result of original engineering, and we'll stay focused on delivering value. We're confident in a positive outcome as the facts are reviewed."

The Company maintains that its platforms, including the platforms accused of infringing Natsoft's patents (Amaze®, Tensai®, and RapidX™), are the result of original engineering, involving years of in-house research and development and significant financial investment. The Company states that these products offer far more advanced functionalities than those claimed in the patents implicated in the lawsuit, and they do not infringe upon any Natsoft or third-party intellectual property rights.

All three Hexaware platforms referenced are fundamentally different from, and superior to, other platforms in the market. Hexaware has successfully filed and obtained patent protection for some of the methods embodied by Amaze® and Tensai®, underscoring their originality (Hexaware recently received a Notice of Allowance for a U.S. patent related to the Tensai® product; the patent is expected to issue shortly).

Amaze® is Hexaware's modernization platform, purpose-built to refactor and migrate legacy applications while preserving existing business logic. Unlike other solutions, Amaze® decomposes monoliths into microservices, streamlining containerization using a deterministic and compliant transformation methodology.

Tensai® ATOP (the Autonomous Testing Orchestration Platform is the only module of Tensai® at issue) is Hexaware's comprehensive automation and assurance platform, spanning cloud-native operations, orchestration, integration, and quality engineering activities across leading enterprise systems. Its functionality delivers unified dashboards, advanced data visibility, and GenAI-powered automation without scanning application code.

RapidX™ is a new, proprietary GenAI-era platform that creates a detailed X-ray of the business logic in legacy code and converts it into a modernization blueprint with EPICs for development. RapidX™ works with industry-leading platforms to generate new code guided by the blueprint of legacy code.

Hexaware anticipates no material change to its operations, ability to serve customer commitments, partner programs, or financial position as a result of this lawsuit.

Shares of Hexaware Technologies Limited was last trading in BSE at Rs. 737.20 as compared to the previous close of Rs. 725.45. The total number of shares traded during the day was 19763 in over 1092 trades.

The stock hit an intraday high of Rs. 738.55 and intraday low of 711.10. The net turnover during the day was Rs. 14452736.00.

Source : Equity Bulls

Keywords

HexawareTechnologies HEXT INE093A01041 Software Consulting PatentLawsuit Natsoft