Indian Economy News

Happiest Minds to acquire Noida-based PureSoftware for US$ 94.5 million (Rs. 779 Crore)

  • IBEF
  • April 26, 2024

Happiest Minds Technologies, a leading IT company, announced its definitive agreement to acquire PureSoftware Technologies, based in Noida, for US$ 94.5 million (Rs. 779 crore). The deal involves an upfront payment of US$ 76.2 million (Rs. 635 crore), with an additional US$ 17.3 million (Rs. 144 crore) slated for payment by the end of FY25 contingent upon meeting performance targets.

PureSoftware Technologies specializes in digital engineering and transformation services, boasting significant expertise in various industries such as banking, healthcare, retail, and gaming. Happiest Minds aims to enhance its domain capabilities in sectors like BFSI and healthcare through this acquisition. With a workforce of 1,200 employees, PureSoftware will contribute to the expansion of Happiest Minds' Product & Digital Engineering Services (PDES) business unit.

Furthermore, the acquisition will not only bolster Happiest Minds' presence in the US, UK, and India but also provide a near-shore presence in Mexico, as well as establish offices in Singapore, Malaysia, and Africa.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.