Happiest Minds Technologies Acquires PureSoftware For Rs 779 Cr To Expand Digital, Domain Expertise
The acquisition adds approximately 1,200 skilled professionals to Happiest Minds’ workforce
Happiest Minds Technologies has announced the definitive acquisition of PureSoftware Technologies Private Limited for a total consideration of USD 94.5 million (approximately Rs 779 crore).
The structured deal includes an upfront payment of Rs 635 crore upon closing, with a deferred component of up to Rs 144 crore, contingent on achieving specific performance targets by the end of FY25.
PureSoftware, headquartered in Noida with a global footprint, specialises in Digital Engineering and Transformation Services. The company is recognised for its domain expertise across several key verticals including Banking & Financial Services, Insurance (BFSI), Healthcare & Life Sciences, Retail & Logistics, and Gaming & Entertainment. Notably, PureSoftware also brings to the table its award-winning Banking-as-a-Service Platform, Arttha.
This strategic acquisition is expected to significantly bolster Happiest Minds' capabilities within the BFSI and Healthcare sectors.
The acquisition adds approximately 1,200 skilled professionals to Happiest Minds’ workforce, enhancing the company's Product & Digital Engineering Services (PDES) Business Unit. With this acquisition, Happiest Minds not only strengthens its presence in the USA, UK and India but also extends its geographical reach to include near-shore capabilities in Mexico and offices in Singapore, Malaysia, and Africa.
Venkatraman Narayanan, Managing Director & CFO, Happiest Minds said, “The PureSoftware acquisition aligns perfectly with our long-term vision to accelerate profitable growth, build and sustain world-class team, and establish thought leadership. This acquisition will also create long-term value for all our shareholders.”
The fiscal performance of PureSoftware reported revenues amounting to USD 43 million (Rs 351 crore) for Fiscal 2024.
