Happiest Minds to acquire Sri Mookambika Infosolutions for ₹111 crore

Happiest Minds Technologies, a Bengaluru-based IT firm, has signed definitive agreements to acquire 100% of Sri Mookambika Infosolutions (SMI), a tech firm from Madurai,

With over 400 offshore-based employees, SMI has an annual revenue run rate of $9 million.

SMI provides product engineering services to its U.S. customers around enterprise applications and integrations, digital data platform services (Analytics, Data Strategy, AI/ML, User Experience), Mobility Services and DevSecOps.

Joseph Anantharaju, Executive Vice-Chairman & CEO – Product Engineering Services, Happiest Minds Technologies said “ Working together with SMI, we seek to go deeper into the healthcare vertical.”

Venkatraman Narayanan, Managing Director & CFO, Happiest Minds Technologies, said “SMI with expertise in healthcare and a vibrant talent pool in the burgeoning Tier-2 locations of Madurai and Coimbatore, is well aligned with our vision.’‘

The acquisition was supported by Ernst & Young on the advisory side.