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Tech veteran Ashok Soota-promoted Happiest Minds Technologies on Thursday said it signed definitive agreements to acquire 100% of the equity share capital of Noida-based PureSoftware Technologies Private Limited (PureSoftware) for a total purchase consideration of $94.5 million (₹779 crore) This would include an upfront payout of ₹635 crore on closing the deal and a deferred payment of ₹144 crore payable at the end of FY25 on achievement of set performance targets, the company said in a regulatory filing
According to Happiest Minds Technologies, PureSoftware is a fast-growing Digital Engineering & Transformation Services and solutions provider with deep domain expertise and it focuses on Banking & Financial Services and Insurance (BFSI), Healthcare & Life Sciences, Retail & Logistics, and Gaming & Entertainment. Through this acquisition,in addition to augmenting its presence in the U.S, U.K. and India, Happiest Minds will also get a near-shore presence in Mexico and offices in Singapore, Malaysia, and Africa. PureSoftware, which employs 1,200 people, reported revenue of $43 million during FY’24.
Ashok Soota, Executive Chairman, Happiest Minds, said, the shared vision of PureSoftware and Happiest Minds was to drive happiness for people and customers.
