Happiest Minds Technologies, a leading Mindful IT Company, has announced its acquisition of PureSoftware Technologies in a strategic move to strengthen its domain capabilities in the Banking, Financial Services, Insurance (BFSI), and Healthcare and Life Sciences sectors. The deal, valued at $94.5 million, will support Happiest Minds in expanding its offerings and services within its Product & Digital Engineering Services (PDES) Business Unit.
PureSoftware Technologies, a fast-growing Digital Engineering & Transformation Services provider, brings deep domain expertise in verticals such as BFSI, Healthcare & Life Sciences, Retail & Logistics, and Gaming & Entertainment. The company also offers an award-winning Banking-as-a-Service Platform called “Arttha.” With this acquisition, Happiest Minds gains access to PureSoftware’s strengths and capabilities, allowing for value-added services and upselling opportunities to existing customers.
In addition to bolstering its presence in the USA, UK, and India, the acquisition provides Happiest Minds with a near-shore presence in Mexico, as well as offices in Singapore, Malaysia, and Africa. PureSoftware reported revenues of $43 million for Fiscal 2024.
Ashok Soota, Executive Chairman of Happiest Minds, expressed his delight in welcoming the PureSoftware team. He emphasized the shared vision of driving happiness for both people and customers. Joseph Anantharaju, Executive Vice Chairman of Happiest Minds, highlighted the potential for cross-selling services and driving accelerated growth.
The acquisition aligns with Happiest Minds’ long-term vision of profitable growth, building a world-class team, and establishing thought leadership. Venkatraman Narayanan, Managing Director & CFO of Happiest Minds, expects the acquisition to create long-term value for shareholders.
Anil Baid, Chairman & Chief Strategy Officer of PureSoftware, believes that joining Happiest Minds will allow the company to deliver even greater value to stakeholders by leveraging emerging trends in Product Engineering, Artificial Intelligence, Cloud Infrastructure Management, and Information Security.
By embracing new technologies and adopting innovative methods, Happiest Minds has positioned itself at the forefront of digital transformation. The company’s dedication has been recognized through accolades such as being named among India’s Best Workplaces and for building a culture of innovation.
Happiest Minds Technologies is a Mindful IT Company that enables digital transformation for enterprises and technology providers. With a focus on disruptive technologies, the company offers services in Product & Digital Engineering, Generative AI Business Services, and Infrastructure Management & Security across various industry sectors globally.
Source: PRNewswire
Happiest Minds Technologies’ acquisition of PureSoftware Technologies is aimed at expanding its domain capabilities in the BFSI and Healthcare and Life Sciences sectors. This strategic move will allow Happiest Minds to strengthen its offerings and services within its Product & Digital Engineering Services Business Unit.
PureSoftware Technologies brings deep domain expertise in various verticals including BFSI, Healthcare & Life Sciences, Retail & Logistics, and Gaming & Entertainment. The company’s award-winning Banking-as-a-Service Platform, “Arttha,” will also be a valuable addition to Happiest Minds’ portfolio.
The acquisition not only strengthens Happiest Minds’ presence in the USA, UK, and India but also provides it with a near-shore presence in Mexico and offices in Singapore, Malaysia, and Africa. This expanded geographical reach will open up new opportunities for the company.
Happiest Minds’ long-term vision of profitable growth and establishing thought leadership aligns with this acquisition. The company aims to create long-term value for shareholders by leveraging PureSoftware’s strengths and capabilities.
One of the advantages of this acquisition is the potential for cross-selling services and driving accelerated growth. Happiest Minds can now offer value-added services and upselling opportunities to existing customers by leveraging PureSoftware’s expertise.
However, one potential challenge associated with this acquisition could be integrating the two companies’ operations and cultures effectively. Ensuring a smooth integration process will be crucial for success.
Looking at market trends, the demand for digital transformation services in the BFSI and Healthcare and Life Sciences sectors is expected to continue growing. As businesses increasingly rely on technology to drive efficiency and innovation, companies like Happiest Minds are well-positioned to capitalize on this trend.
Forecasts suggest that the digital engineering and transformation services market will experience significant growth in the coming years. As Happiest Minds expands its domain capabilities through this acquisition, it is likely to be well-positioned to tap into this growth potential and gain a larger market share.
Overall, the acquisition of PureSoftware Technologies by Happiest Minds Technologies is a strategic move that can enhance the company’s offerings, expand its geographical reach, and position it for long-term growth in the digital transformation services market.
Related links:
– Happiest Minds Technologies
– PureSoftware Technologies
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