markets but lacks digital banking. Mobiquity will help HEXW to build digital banking solutions & Omni channel banking capability. Services offered by both companies are complementary to each other rather than competitive. We are estimating 18.7% USD revenue growth for HEXW which includes 24% growth in Mobiquity (USD47mn for 6.5 months) & organic growth of ~13% in CY19E & 18.5% USD revenue growth in CY20E. We cut our EBIT margins by 30bps/50bps for CY19/20E due to higher depreciation and slight lower margin business of Mobiquity. We expect lower other Income Led by USD130m...