Happiest Minds to acquire PureSoftware for $94.5m

• Acquisition helps Happiest Minds strengthen its domain capabilities in banking, financial services, insurance, healthcare and life sciences verticals.

India’s Happiest Minds Technologies has signed a definitive agreements to acquire 100 per cent of the equity share capital of Noida-based PureSoftware Technologies for a total purchase consideration of $94.5 Million (Rs779 crore).

HappiestMinds  will pay  Rs635 crore upfront on closing and deferred of up to Rs144 crore payable at the end of FY25 on achievement of set performance targets.

Through this acquisition, Happiest Minds strengthens its domain capabilities in banking, financial services, insurance (BFSI) and healthcare and life sciences verticals.

“PureSoftware brings with it strong capabilities in banking, insurance and healthcare domains; allowing us to add value and upsell to our customers. We are excited by the potential to cross-sell analytics, GenAI, automation, infrastructure management and cyber security services to PureSoftware customers and drive accelerated growth for Happiest Minds,” Joseph Anantharaju, Executive Vice Chairman, Happiest Minds, said.

Manish Sharma, Chief Executive Officer (CEO), PureSoftware, said that joining forces with Happiest Minds helps them in their journey to scale their presence across geographies building upon the joint foundation of shared values of innovation, integrity and social responsibility.