ITC Infotech to acquire 22.1% stake in Happiest Minds for Rs 1,330 crore; firms to merge
Covered by 6 sources
- Economic Times·3d agoITC shares rise 5%; Happiest Minds falls 8% after FMCG major acquires IT firm. What shareholders must know
ITC shares rose, while Happiest Minds fell, after ITC Infotech announced plans to acquire and merge with the Bengaluru-based IT services firm. ITC Infotech will first buy a 22.1% stake from founder Ashok Soota for Rs 1,330 crore, followed by a share swap. After the merger, ITC…
Read at Economic Times → - Business Today IN·3d agoITC, Happiest Minds shares in focus after ITC Infotech merger announcement. Key details
The combined entity will bring together Happiest Minds’ capabilities in AI, digital engineering, cloud, data, analytics and cybersecurity with ITC Infotech’s expertise in enterprise transformation, SAP, PLM and cloud.
Read at Business Today IN → - Financial Post·3d agoStrategic Combination of ITC Infotech and Happiest Minds Technologies to Create a Scaled, Future-Ready, AI-First Global Technology Services Enterprise with US$ 1 Billion Revenue by FY28[1]
ITC Infotech Board approves proposed acquisition of 22.1% promoter stake and a Scheme of Amalgamation of the two companies BANGALORE, India — ITC Infotech (ITCI), a wholly owned subsidiary of ITC Limited and a leading global technology services player, today announced the…
Read at Financial Post → - Business Standard·3d agoITC Infotech, Happiest Minds Technologies to merge in ₹1,330 crore deal
ITC will hold about 73.4 per cent in the merged company, which will have over 19,000 employees, serve 800 customers and target $1 billion in annual revenue by FY28
Read at Business Standard → - ET Tech·3d agoITC Infotech to acquire 22.1% stake in Happiest Minds for Rs 1,330 crore; firms to merge
ET had first reported on March 20 about ITC Infotech potentially looking to pick a stake in Happiest Minds. On August 29, ET reported details of the proposed transaction, including a merger through a share swap that will effectively result in the backdoor listing of ITC Infotech.
Read at ET Tech →