ITC Infotech plans Happiest Minds acquisition and merger
Image: Primary ITC Infotech has approved a plan to acquire about 22.1% of Happiest Minds Technologies from its promoters for ₹1,330 crore in cash, followed by an amalgamation of Happiest Minds into ITC Infotech, according to a report citing BSE.
The companies' boards endorsed the transaction, which would combine IT services, digital product engineering, data, cybersecurity and AI capabilities. The report says implementation could take about 15 months and requires approvals from the Competition Commission of India, stock exchanges and the National Company Law Tribunal.
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