Happiest Minds Technologies, a digital transformation IT consulting & services company, has announced that it will acquire Macmillan Learning India, which will become a wholly-owned subsidiary of the company. According to the official statement, Happiest Minds said, “It has executed a share purchase agreement to acquire 100% equity interest in Macmillan Learning India Private Limited, subject to the terms and conditions set out in the agreement.”
The deal, which is set to be finalized by April 30, represents a significant financial commitment for Happiest Minds Technologies, with a total cost of INR 4.5 crore.
The statement added, “The company will be purchasing 1,00,000 equity shares of the face value of INR 1 each in Macmillan Learning India from its existing shareholders”.
Established in September 2015, Macmillan Learning India is a wholly owned subsidiary of the Macmillan Group, USA. The subsidiary provides software development services to the Macmillan Group and has been working as an “Offshore Development Centre”. The firm currently has a paid-up capital of INR 1 lakh; its net worth and current turnover are INR 4.45 crore and INR 9.25 crore, respectively.
Launched in 2011, Happiest Minds has been a pioneer in enabling digital transformation for enterprises and technology providers. The platform achieves this by leveraging disruptive technologies such as artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/ augmented reality, etc. The firm’s commitment to innovation and its ability to harness these technologies for beneficial use is exemplified by its latest business unit, ‘Generative AI Business Services (GBS).’ With operations throughout the US, UK, Canada, Australia, and the Middle East, and its headquarter in Bengaluru, Happiest Minds is well-positioned to drive digital transformation on a global scale.
