New Delhi, April 25
IT company Happiest Minds Technologies, on Thursday, said it has acquired Noida-based PureSoftware Technologies for $94.5 million (Rs 779 crore).
Through this acquisition, Happiest Minds said that it has strengthened its domain capabilities in banking, financial services, insurance (BFSI) and healthcare and life sciences verticals.
PureSoftware, with its 1,200-strong workforce, will augment the capabilities and services offerings to Happiest Minds' product and digital engineering services (PDES) business unit.
“Our Mission of ‘Happiest People. Happiest Customers’ and PureSoftware’s ‘Customer Delight by Creating Employee Delight’ harmonises our shared vision of driving happiness for people and customers,” said Ashok Soota, Executive Chairman, Happiest Minds.
In addition to augmenting its presence in the US, the UK and India, Happiest Minds will also get a near-shore presence in Mexico and offices in Singapore, Malaysia, and Africa.
PureSoftware reported revenues of $43 million (Rs 351 crore) for fiscal 2024.
“As a part of Happiest Minds family, we will be able to deliver even greater value to our stakeholders including customers, employees and partners,” said Anil Baid, Chairman & Chief Strategy Officer, PureSoftware.
The acquisition involves upfront payment of Rs 635 crore and deferred of upto Rs 144 crore payable at the end of FY25, on achievement of set performance targets.