Happiest Minds Technologies has inked definitive agreements to acquire 100% of Sri Mookambika Infosolutions (SMI) - a Madurai headquartered, profitable, IT services company through a combination of upfront and deferred equity consideration totaling Rs 111 crore. With more than 400 offshore-based employees, SMI has an annual run rate in revenues of circa $9 million. The objective of the acquisition is to strengthen Happiest Minds’ offerings and leadership in the healthcare vertical with delivery capabilities in tier-2 locations like Madurai and Coimbatore.
The acquisition is effective January 1, 2023, definitive agreements signed on January 25, 2023 with conditions subsequent to closing to be completed before end of February 2023.
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. 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.
Happiest Minds Technologies is a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.
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