MERGERS AND ACQUISITIONS (M&A)
A strategic and focused M&A program, tied to the Company's long-term goals, is in place and represented by the investment committee, which consists of two executive members. The Company follows a programmatic M&A approach that aims to acquire companies of strategic interest and meaningful size and scale.
Happiest Minds has, in the past, acquired several companies that have helped achieve the above objectives and create long-term value for its stakeholders through sustained growth and profitability. Our acquisitions include Cupola, an IoT solutions and services provider for industrial, telecom, smart homes, wearables, logistics, and smart cities, which has helped strengthen our IoT Center of Excellence (CoE). Pimcore Global Services (PGS) and Happiest Minds are both strategic partners of Pimcore, Austria. Our acquisition of PGS expanded our delivery competencies, making us Pimcore’s largest offshore implementation partner in the world.
In January 2023, we acquired Sri Mookambika Infosolutions, a CMMI Level 3 and ISO 9001:2015-certified company headquartered in Madurai. It provides product engineering services to US customers in the areas of Enterprise Applications & Integrations, Digital Data Platform Services (Analytics, Data Strategy, AI/ML, User Expe rience), Mobility Service and DevSecOps. It has deep domain expertise in the healthcare vertical.
The Company will continue to be acquisitive by evaluating candidates who are aligned with its priorities as mentioned above. The Company has had a good headstart to FY 2024-25 with the strategic acquisitions of PureSoftware Technologies Private Limited ('PureSoftware') and Aureus Tech Systems LLC ('Aureus').
Through PureSoftware, Happiest Minds strengthens its domain capabilities in the Banking, Financial Services, Insurance (BFSI), and Healthcare and Life Sciences verticals. The 1,200-person Company will augment the capabilities and service offerings of Happiest Minds' already strong Product & Digital Engineering Services (PDES) Business Unit. In addition to strengthening its presence in the USA, UK, and India, Happiest Minds will also gain a near-shore presence in Mexico and offices in Singapore, Malaysia, and Africa.
Aureus is a niche Azure-native digital product engineering company focused on digital transformation using Data, AI, and Application Modernization. The 150-person Company, headquartered in Denver, Colorado, with a development center in Hyderabad, partners with Fortune 500 companies, including global Insurance and Reinsurance providers, and Healthcare & Life Sciences enterprises in their cloud transformation journeys. As a Microsoft-certified Gold & Co-sell Partner for Digital & App Innovation (Azure), Aureus delivers bespoke Cloud and AI-based transformation solutions, underpinned by a blend of domain expertise and industry acumen. Through this acquisition, Happiest Minds strengthens its domain capabilities in the Insurance & Reinsurance, Healthcare, and Life Sciences verticals.
