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HomeLatest NewsBusinessHappiest Minds Technologies to Acquire PureSoftware Technologies for Rs 779 Crore -...

Happiest Minds Technologies to Acquire PureSoftware Technologies for Rs 779 Crore – Prime Time News24


Happiest Minds Applied sciences has signed definitive agreements to amass 100 per cent of the fairness share capital of PureSoftware Applied sciences Pvt Ltd.

The whole buy consideration contains upfront fee of Rs 635 crore on closing and deferred fee of as much as Rs 144 crore payable on the finish of 2024-25, on achievement of set efficiency targets

IT firm Happiest Minds Applied sciences Ltd on Thursday mentioned it is going to purchase PureSoftware Applied sciences for a complete consideration of USD 94.5 million (Rs 779 crores). Happiest Minds Applied sciences has signed definitive agreements to amass 100 per cent of the fairness share capital of PureSoftware Applied sciences Pvt Ltd for a complete buy consideration of Rs 779 crore, in keeping with an organization assertion.

The whole buy consideration contains upfront fee of Rs 635 crore on closing and deferred fee of as much as Rs 144 crore payable on the finish of 2024-25, on achievement of set efficiency targets. “I’m delighted to welcome the PureSoftware Staff to the Happiest Minds household. Our Mission of ‘Happiest Individuals. Happiest Clients’ and PureSoftware’s ‘Buyer Delight by Creating Worker Delight’ harmonizes our shared imaginative and prescient of driving happiness for folks and prospects,” Happiest Minds, govt chairman, Ashok Soota, mentioned within the assertion.

Noida-headquartered PureSoftware has a world presence. It companions with international enterprises throughout centered verticals which embody banking and monetary companies and insurance coverage (BFSI), healthcare and life Sciences, retail and logistics, in addition to gaming and leisure. By this acquisition, Happiest Minds goals to strengthen its area capabilities in BFSI and healthcare and life Sciences verticals.

Along with augmenting its presence within the USA, the UK and India, Happiest Minds may also get a near-shore presence in Mexico and workplaces in Singapore, Malaysia, and Africa. PureSoftware reported revenues of USD 43 million (about Rs 351 crore) for fiscal 2024.

“As part of Happiest Minds household, we will be capable of ship even better worth to our stakeholders together with prospects, workers and companions by cross leveraging the capabilities Happiest Minds has constructed round rising traits in product engineering, synthetic intelligence, cloud infrastructure administration and knowledge safety,” PureSoftware, chairman and chief technique officer, Anil Baid mentioned.

(This story has not been edited by Prime Time News24 employees and is revealed from a syndicated information company feed – PTI)

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