Happiest Minds Technologies Limited on Friday announced the acquisition of US-based Pimcore Global Services for a consideration of US $8.25 million to strengthen its presence in digital commerce.
“Happiest Minds Technologies Ltd has concluded and signed definitive agreements to acquire 100% ownership interest of PGS Inc. (DBA: Pimcore Global Services), a Houston, USA based digital e-commerce and data management solutions company for a consideration of US $8.25 million,” company said in a regulatory filing on Friday.
The company said, PGS has a strategic partnership with Pimcore Austria for delivering solutions around Pimcore, an opensource framework which helps enterprises establish a robust digital presence through seamless data and experience management. PGS clientele includes customers across Retail, CPG and Manufacturing verticals.
PGS and Happiest Minds have had a successful strategic partnership pursuant to which Happiest Minds has been rendering offshore services to PGS. Revenues of PGS for the fiscal ending December 31, 2020 was circa US$ 10.6 million and Happiest Minds counts PGS amongst its list of US$ 2M + customers.
Happiest Minds is a Gold Partner of Pimcore for the past several years and the combined capabilities will enhance Happiest Minds’ global Digital Commerce practice.
At around 1.48 pm, Happiest Minds Technologies Ltd was trading at Rs344.80 per piece down by Rs2.45 or 0.71% from its previous closing of Rs347.25 per piece on the BSE.