.png){kind=logo}
ITC Infotech is all set to merge with Happiest Minds Technologies in a strategic transaction, creating one of India’s larger technology services companies. The partnership could become the country’s 11th-largest listed IT services player by revenue, with pro forma FY26 revenue of Rs. 7,033 crore.
The deal brings together ITC Infotech, the technology services arm, and Bengaluru-based Happiest Minds, founded by technology veteran Ashok Soota. The companies aim to build an AI-first technology services enterprise with global scale.
As part of the deal, ITC Infotech will acquire 22.1% of Happiest Minds through Ashok Soota and promoter groups in exchange for Rs. 1,330 crore in total.
The acquisition will take place before the proposed merger. Happiest Minds' stockholders will get 25 shares of ITC Infotech. For every 81 shares that they currently hold in Happiest Minds. Following the merger, ITC Ltd will own approximately 73.4%, whereas the remaining 26.6% will belong to the current shareholders of Happiest Minds.
The merger will significantly expand ITC Infotech’s scale. The combined entity recorded pro forma FY26 revenue of Rs. 7,033 crore. ITC Infotech contributed Rs. 4,718 crore, and Happiest Minds reported revenue of Rs. 2,315.11 crore.
The combination will bring together complementary technology capabilities. Happiest Minds contributes expertise in artificial intelligence, digital engineering, cloud, data, analytics and cybersecurity.
The new company will have more than 19,000 employees, serve over 800 customers and operate across more than 30 countries. Its geographic footprint will cover the US, Europe, the Middle East, Asia-Pacific and India.
Also Read: EU Tightens Scrutiny of ChatGPT, Reddit, Roblox Under DSA
