Happiest Minds Acquires Sri Mookambika Infosolutions “SMI”
Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a ‘Born Digital. Born Agile’, Mindful IT Company today announced signing of definitive agreements to acquire 100% of SMI - a Madurai headquartered, profitable, IT services company through a combination of upfront and deferred equity consideration totaling ₹ 111 crores. With 400+ offshore-based employees, SMI has an annual run rate in revenues of circa US$ 9 Million.
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. Certified as a CMMI Level 3 and ISO 9001:2015 company, SMI delivers its engagements through agile delivery leveraging mature and industry-standard software engineering and development practices. The Company has over the years built deep domain expertise around the healthcare vertical.
Joseph Anantharaju, Executive Vice Chairman & CEO – Product Engineering Services, Happiest Minds Technologies said “We are excited to have the SMI team of 400+ join the Happiest Minds family. SMI brings in deep domain capabilities which add to our healthcare vertical strengths and align very well with our Product Engineering Services business unit. Working together we seek to go deeper into the healthcare vertical.”
Venkatraman Narayanan, Managing Director & CFO, Happiest Minds Technologies, said “SMI with expertise in healthcare and a vibrant talent pool in the burgeoning Tier-2 locations of Madurai and Coimbatore, is well aligned with our vision. Over the years SMI has built a strong profitable enterprise and we are extremely pleased to welcome them to the Happiest Minds family. Together, we are a strong force well ready to meet existing and future customer demands.”
The acquisition was supported by Ernst & Young on the advisory side.
Founded in 2011, Happiest Minds is recognized among India’s Top 50, Asia’s Top 100 and Top 50 India’s Best Workplaces™ for Women 2022 by the Great Place to Work® Institute. The company has won the prestigious Golden Peacock Award for Excellence in Corporate Governance 2022 and the Golden Peacock Business Excellence Award 2021 and has recently been awarded the “Best Governed Company in Listed Segment: Medium Category – National Awards for Excellence in Corporate Governance” at the Institute of Company Secretaries of India (ICSI) National Awards 2022.
INTERVIEWS
TOP VIDEOS
SECURITY
SOFTWARE
Tech Mahindra to help Bank of Baroda to enhance Customer Experience
Tech Mahindra announced its partnership with Bank of Baroda, to deploy digital solutions t...
Birlasoft brings bCloud+ to help enterprises migrate JD Edwards Workloads to OCI
Birlasoft has launched bCloud+, an end-to-end solution to help enterprises migrate on-prem...
NVIDIA announces Advanced Autonomy to Mobile Robots with Isaac AMR
NVIDIA has announced to launch a new platform to enable the next generation of autonomous...
START - UP
PERIPHERALS
INDUSTRY EVENTS
Kingston showcases New Non-Binary DDR5 Memory and XS1000 External SSD in COMPUTEX 2023
Kingston Technology has announced it will make a grand return to COMPUTEX Taipei event aft...
Genesys creating an exceptional Customer Experience leveraging the skillful orchestration of Employee Experience
To recognise its strategic partners advancing the industry, Genesys, organised the APAC Pa...
TDC Captures the Beauty of our Natural World at Vivid Sydney 2023
Sydney, Australia, May 2023 – It would be easy for a company like TDC – T...
MediaTek organizes its 12th Chapter of Technology Diaries
MediaTek has hosted its 12th Chapter of Technology Diaries themed ‘The Vision to Go...
E- COMMERCE
