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Happiest Minds Technologies agreed to merge with ITC Infotech India. The combined company is expected to reach $1 billion in annual sales by fiscal 2028 and serve 800 customers across more than 30 countries.
Happiest Minds Technologies announced a merger with ITC Infotech to form a scaled, AI-first global technology services enterprise spanning AI, digital and product engineering, cloud, data, cybersecurity and consulting; targets US$1 billion revenue by FY28.
On 1 September morning trade on the BSE, Happiest Minds Tech shares fell as much as 10%. The stock opened at Rs.407.50 versus Rs.407.15 and moved lower a day after it announced a merger with ITC Infotech.