Happiest Minds Technologies announced it signed definitive agreements to acquire 100% of the equity share capital of PureSoftware Technologies (PureSoftware) for a total purchase consideration of US $ 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 US $ 43 Million (~ ₹351 Crores) for Fiscal 2024.