Happiest Minds Technologies, a leading ‘Born Digital. Born Agile’ IT company, has announced its acquisition of PureSoftware Technologies Private Limited. The deal, valued at US $94.5 million (₹779 crores), includes an upfront payment of ₹635 crores upon closing and a deferred payment of up to ₹144 crores by the end of FY25, contingent on meeting performance targets.
PureSoftware, headquartered in Noida with a global presence, specializes in Digital Engineering & Transformation Services, particularly in sectors like BFSI, Healthcare & Life Sciences, Retail & Logistics, and Gaming & Entertainment. The acquisition aims to enhance Happiest Minds’ domain expertise, particularly in BFSI and Healthcare & Life Sciences, and strengthen its Product & Digital Engineering Services (PDES) Business Unit. Additionally, it expands Happiest Minds’ global footprint with near-shore presence in Mexico and offices in Singapore, Malaysia, and Africa. PureSoftware reported revenues of US $43 million (~ ₹351 crores) for Fiscal 2024.
Executives from both companies expressed enthusiasm about the acquisition, highlighting its potential to drive customer satisfaction and growth. Happiest Minds aims to leverage PureSoftware’s expertise to cross-sell services such as Analytics, GenAI, Automation, Infrastructure Management, and Cyber Security, fostering accelerated growth. PureSoftware’s leadership sees the acquisition as an opportunity to scale their presence globally while aligning with Happiest Minds’ values of innovation, integrity, and social responsibility.
EY and Avendus Capital served as exclusive financial advisors for Happiest Minds and PureSoftware, respectively. Happiest Minds, known for embracing new technologies and fostering an innovative work culture, continues to evolve, recently launching its ‘Generative AI Business Services (GBS)’ unit. It has also been recognized among India’s Best Workplaces™ in IT & IT-BPM and for Building a Culture of Innovation in 2023.