Biznextindia : Ashok Soota promoted Happiest Minds has executed a Share Purchase Agreement to acquire 100% of the equity interest in the share capital of PureSoftware Technologies Private Limited for a cash consideration of Rs.779 crore. Out of the 779 crore, Upfront consideration is of Rs. 635 Crores and deferred consideration of upto Rs. 144 Crores to be payable at the end of FY25 on achievement of set performance targets.
On completion of the transaction, the Company will own 100% of equity interest in PureSoftware. The Company will be acquiring 3,24,12,166 equity shares of PureSoftware from its existing shareholders
PureSoftware is engaged in the business of providing digital engineering and transformation services and software solutions to its customers.
As part of its practice in the BFSI vertical, it also owns Arttha, a self-developed platform which offers banking as a service. It has presence in countries like India, USA, UK, Mexico, Singapore, Malaysia and Africa.