2024-04-25 | Press Release | Happiest Minds Technologies to obtain Digital Engineering & Transformation business
SAN JOSE, Calif. and LONDON and BENGALURU, India, April 25, 2024 /PRNewswire/ — Happiest Minds Technologies Restricted (NSE: HAPPSTMNDS), a ‘Born Electronic. Born Agile’, Aware IT Company, nowadays introduced it signed definitive agreements to purchase 100% of the fairness share money of PureSoftware Technologies Private Restricted (‘PureSoftware‘) for a overall acquire thought of US $ 94.5 Million (₹779 Crores) (Upfront of ₹635 Crores on closing and deferred of upto ₹144 Crores payable at the stop of FY25 on accomplishment of set overall performance targets).
PureSoftware with a international existence and headquarters in Noida is a rapid-escalating Digital Engineering & Transformation Services and options company with deep area experience. PureSoftware associates with world-wide enterprises throughout centered verticals which contain Banking & Economic Providers and Insurance (BFSI), Healthcare & Life Sciences, Retail & Logistics, and Gaming & Leisure. The Business also has an award-profitable Banking-as-a-Company Platform ‘Arttha‘.
Through this acquisition, Happiest Minds strengthens its domain capabilities in Banking, Fiscal Companies, Coverage (BFSI) and Healthcare and Everyday living Sciences verticals. The 1,200-people today enterprise will increase the capabilities and companies choices to Happiest Minds’ presently powerful Product or service & Digital Engineering Expert services (PDES) Company Device. In addition to augmenting its presence in United states, Uk and India, Happiest Minds will also get a around-shore presence in Mexico and places of work in Singapore, Malaysia, and Africa. PureSoftware reported revenues of US $ 43 Million (~ ₹351 Crores) for Fiscal 2024.
Ashok Soota, Govt Chairman, Happiest Minds, said, “I am delighted to welcome the PureSoftware Workforce to Happiest Minds relatives. Our Mission of ‘Happiest Individuals. Happiest Customers’ and PureSoftware’s ‘Client Delight by Creating Staff Delight’ harmonizes our shared eyesight of driving happiness for folks and shoppers.”
Joseph Anantharaju, Government Vice Chairman, Happiest Minds, explained, “PureSoftware delivers with it sturdy capabilities in Banking, Insurance policies and Health care domains allowing for us to insert benefit and upsell to our buyers. We are fired up by the likely to cross-sell Analytics, GenAI, Automation, Infrastructure Administration and Cyber Security services to PureSoftware clients and drive accelerated growth for Happiest Minds.”
Venkatraman Narayanan, Managing Director & CFO, Happiest Minds, explained, “The PureSoftware acquisition aligns completely with our very long-phrase vision to speed up worthwhile expansion, develop and maintain world-course crew, and establish believed management. This acquisition will also make extended-term worth for all our shareholders.”
Anil Baid, Chairman & Main Strategy Officer, PureSoftware, mentioned, “PureSoftware has been regarded as a trusted spouse by our buyers for the ability to supply solutions combining our area information with main engineering skills in digital systems. As a part of Happiest Minds family, we shall be capable to supply even greater worth to our stakeholders including prospects, workers and partners by cross leveraging the capabilities Happiest Minds has built about rising tendencies in Item Engineering, Synthetic Intelligence, Cloud Infrastructure management and Details security.”
Manish Sharma, Main Govt Officer (CEO), PureSoftware, claimed, “We are happy of the journey PureSoftware has had so far, helping our prospects recognize the ability of transformative *domain-led* digital solutions by way of the dedication of our about 1,200 employees. Joining forces with Happiest Minds, allows us in our journey to scale our existence across geographies creating upon the joint foundation of shared values of innovation, integrity, and social responsibility.”
EY and Avendus Money acted as distinctive money advisor to Happiest Minds and PureSoftware respectively.
Happiest Minds has continually been at the forefront of embracing new systems and adopting innovative strategies to place these systems to best use. The most recent business unit, ‘Generative AI Small business Providers (GBS),’ is proof of that. Happiest Minds has also been regarded amid the Top 50 India’s Very best Workplaces™ in IT & IT-BPM and Top rated 50 India’s Ideal Workplaces™ for Making a Society of Innovation 2023, which stands as a testomony to the grit and dedication with which the corporation operates.
About Happiest Minds Technologies
Happiest Minds Technologies Restricted (NSE: HAPPSTMNDS), a Aware IT Company, allows electronic transformation for enterprises and engineering providers by providing seamless shopper activities, enterprise effectiveness and actionable insights. We do this by leveraging a spectrum of disruptive systems these kinds of as: synthetic intelligence,blockchain,cloud,electronic process automation,web of issues, robotics/drones, safety,virtual/ augmented fact, and so forth. Positioned as ‘Born Electronic. Born Agile’, our abilities span Merchandise & Digital Engineering Services (PDES), Generative AI Business enterprise Companies (GBS) and Infrastructure Management & Security Services (IMSS). We produce these companies throughout industry sectors these types of as automotive, BFSI, consumer packaged merchandise, e-commerce, EdTech, engineering R&D, healthcare, hi-tech, production, retail, and travel/transportation/hospitality. The enterprise has been recognized for its excellence in Company Governance procedures by Golden Peacock and ICSI. A Great Area to Work Certified™ corporation, Happiest Minds, is headquartered in Bangalore, India, with functions in the U.S., United kingdom, Canada, Australia, and the Center East.
Media Get in touch with:
Kiran Veigas
[email protected]
About PureSoftware
PureSoftware is a world wide digital engineering & transformation companies business with an award-winning Banking-as-a-Support platform that has been driving transformation for the world’s major organizations across many verticals, these kinds of as banking and monetary expert services, lifesciences & health care, hello-tech and gaming & leisure. Arttha, from PureSoftware, is a globally reliable Banking-as-a-Company system. It will help corporations embrace electronic solutions in the spots of shopper and SME banking, company/ branchless banking, main banking, lending, payments, BNPL and merchant administration.
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