Company news
Happiest Minds Technologies announces merger with ITC Infotech to create a scaled, AI First Global Technology Services Enterprise
Acquired by ITC Infotech
Published 5 September 2026
WHAT HAPPENED
Happiest Minds Technologies and ITC Infotech signed definitive agreements to merge, creating a combined entity with projected US$1 billion annual revenue by FY28 and 19,000 employees. ITC Infotech will acquire a 22.1% minority stake from Happiest Minds promoters for ₹1,330 crore, and shareholders will receive 25 ITC Infotech shares for every 81 Happiest Minds shares held. The transaction is expected to complete within 15 months pending regulatory approvals.
WHO IS INVOLVED
Happiest Minds Technologies, an AI-focused digital engineering company listed on NSE, is merging with ITC Infotech, a subsidiary of ITC Limited. ITC Limited will become the promoter of the merged company with a 73.4% stake. Leadership includes Ashok Soota (Chairman & Chief Mentor, Happiest Minds), Joseph Anantharaju (CEO, Happiest Minds), and Sanjiv Puri (Chairman, ITC Limited).
WHY IT MATTERS
The merger combines complementary capabilities in AI, digital engineering, cloud, data, cybersecurity, and enterprise transformation, creating a scaled platform to compete for larger global contracts across more than 30 countries with 800+ customers. The combined entity unites Happiest Minds' AI and digital strengths with ITC Infotech's enterprise transformation and SAP expertise, while ITC Limited's financial backing and stability provide resources for global growth and innovation.
- Type
- Acquired
- Category
- Cyber-Physical Security
- Source
- prnewswire.com ↗
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