M&A

Happiest Minds buys IT Services firm Sri Mookambika for Rs.111-Cr

Press Release  

Publicly-listed Happiest Minds Technologies Ltd is to acquire 100% stake in Madurai-headquartered IT services company Sri Mookambika Infosolutions Pvt Ltd (SMI) through a combination of upfront and deferred equity consideration totaling INR 111 crore. The acquisition was advised by Ernst & Young. SMI provides product engineering services to its US customers around Enterprise Applications & Integrations, digital data platform services (Analytics, Data Strategy, AI / ML, User Experience), Mobility Services and DevSecOps. With 400+ offshore-based employees, SMI has an annual run rate in revenues of around USD 9 million.

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