Happiest Minds Technologies trades marginally higher on completing acquisition of PureSoftware Technologies
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Happiest Minds Technologies is currently trading at Rs. 803.30, up by 0.35 points or 0.04% from its previous closing of Rs. 802.95 on the BSE.
The scrip opened at Rs. 802.05 and has touched a high and low of Rs. 808.00 and Rs. 801.75 respectively. So far 8103 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1022.30 on 22-Jun-2023 and a 52 week low of Rs. 738.05 on 28-Mar-2024.
Last one week high and low of the scrip stood at Rs. 823.55 and Rs. 786.55 respectively. The current market cap of the company is Rs. 12236.80 crore.
The promoters holding in the company stood at 50.24%, while Institutions and Non-Institutions held 7.27% and 42.50% respectively.
Happiest Minds Technologies has completed the acquisition of PureSoftware Technologies (PureSoftware) and accordingly the said company became wholly owned subsidiary of company effective from May 28, 2024.
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 $43 million (around Rs 351 crore) for fiscal 2024.
Happiest Minds Technologies is a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.
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