Happiest Minds Technologies gains on signing agreements to acquire 100% equity share in PureSoftware

Happiest Minds Technologies Ltd. | IT - Software | IT & ITES | BSE: 543227 | NSE: HAPPSTMNDS

25 Apr 2024 Evaluate

Happiest Minds Technologies is currently trading at Rs. 826.15, up by 7.60 points or 0.93% from its previous closing of Rs. 818.55 on the BSE.

The scrip opened at Rs. 827.00 and has touched a high and low of Rs. 838.55 and Rs. 824.65 respectively. So far 15545 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1022.30 on 22-Jun-2023 and a 52 week low of Rs. 738.05 on 28-Mar-2024.

Last one week high and low of the scrip stood at Rs. 838.55 and Rs. 795.15 respectively. The current market cap of the company is Rs. 12608.35 crore.

The promoters holding in the company stood at 50.24%, while Institutions and Non-Institutions held 7.27% and 42.50% respectively.

Happiest Minds Technologies has signed definitive agreements to acquire 100% of the equity share capital of PureSoftware Technologies (PureSoftware) for a total purchase consideration of $94.5 million (Rs 779 crore) (Upfront of Rs 635 crore on closing and deferred of upto Rs 144 crore payable at the end of FY25 on achievement of set performance targets).

PureSoftware with a global presence and headquarters in Noida is a fast-growing Digital Engineering & Transformation Services and solutions provider with deep domain expertise. PureSoftware partners with global enterprises across focused verticals which include Banking & Financial Services and Insurance (BFSI), Healthcare & Life Sciences, Retail & Logistics, and Gaming & Entertainment. The Company also has an award-winning Banking-as-a-Service Platform ‘Arttha’.

Through this acquisition, Happiest Minds strengthens its domain capabilities in Banking, Financial Services, Insurance (BFSI) and Healthcare and Life Sciences verticals. The 1,200 people company will augment the capabilities and services offerings to Happiest Minds' already strong Product & Digital Engineering Services (PDES) Business Unit. In addition to augmenting its presence in USA, UK and India, Happiest Minds will also get a near-shore presence in Mexico and offices in Singapore, Malaysia, and Africa. PureSoftware reported revenues of $43 million (around Rs 351 crore) for fiscal 2024.

Happiest Minds Technologies is a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.

Happiest Minds Tech. Share Price

352.25 0.60 (0.17%)

16-Jun-2026 16:59 View Price Chart

Peers

Company Name	CMP
TCS	2198.85
Infosys	1143.30
HCL Tech.	1159.35
Wipro	182.70
Tech Mahindra	1446.10
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