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The acquisition, executed through a share purchase agreement, will see Happiest Minds obtaining 100 percent equity interest in PureSoftware, thereby making it a wholly-owned subsidiary of the company
The total purchase consideration comprises upfront payment of Rs 635 crore on closing and deferred payment of up to Rs 144 crore payable at the end of 2024-25, on achievement of set performance targets
Happiest Minds Technologies Ltd to acquire PureSoftware Technologies for USD 94.5 million, focusing on enhancing domain capabilities in BFSI and healthcare verticals, and expanding global presence in the USA, UK, India, Mexico, Singapore, and Malaysia.