Happiest Minds to Acquire PureSoftware Technologies For Rs 779 crore By CIOTechOutlook Team

Happiest Minds to Acquire PureSoftware Technologies For Rs 779 crore

CIOTechOutlook Team | Thursday, 25 April 2024, 10:31 IST

Happiest Minds Technologies, an IT services firm, will buy Noida-based advanced designing and transformation services and solutions provider PureSoftware for $94.5 million (Rs 779 crore), the IT administration organization added.

The contract value adds an installment of Rs 635 crore for settling the negotiation and a conceded part of up to Rs 144 crore, payable toward the end of fiscal 2025 on the accomplishment of specific execution targets. The exchange is supposed to be finished by May 2024.

Happiest Minds anticipates that the obtaining should assist with reinforcing its area abilities in banking, financial services and insurance (BFSI), as well as medical services and life sciences verticals. PureSoftware, with 1,200 representatives, will expand the capacities and administration contributions to Happiest Minds' Item and Digital Engineering Services Business Unit, it said in a stock trade filing.

PureSoftware reported revenue of USD 43 million in fiscal 2024. Through this deal, Happiest Minds will get offices in Singapore, Malaysia, and Africa and expand its presence in the United States, the United Kingdom, and India. It will also get a near-shore presence in Mexico.

BFSI, healthcare and life sciences, retail and logistics, gaming and entertainment, and more are just a few of the focused verticals in which PureSoftware collaborates with global businesses. Arttha, a platform for banking as a service, is another feature.

“PureSoftware brings with it strong capabilities in banking, insurance and healthcare domains, allowing us to add value and upsell to our customers,” Happiest Minds executive vice chairman Joseph Anantharaju said. “We are excited by the potential to cross-sell analytics, genAI, automation, infrastructure management and cybersecurity services to PureSoftware customers and drive accelerated growth for Happiest Minds.”