Happiest Minds Technologies Limited (NSEI:HAPPSTMNDS) entered into definitive agreement to acquire PureSoftware Technologies Private Limited for INR 7.8 billion on April 24, 2024. The consideration consists INR 7.79 billion comprising of upfront payment of INR 6.3474 billion on closing and deferred payment of up to INR 1.4426 billion payable at the end of FY25 on achievement of set performance targets. PureSoftware reported revenues of INR 351 million for fiscal year 2024.

As of May 27, 2024, the transaction is expected to close on May 31, 2024. Ernst & Young Private Limited, Investment Banking Arm and Avendus Capital Private Limited acted as exclusive financial advisor to Happiest Minds and PureSoftware respectively.