BENGALURU, India, SAN JOSE,
Calif., and LONDON,
May 9,
2024 /PRNewswire/ -- Happiest Minds Technologies
Limited (NSE: HAPPSTMNDS), a 'Born Digital. Born Agile',
Mindful IT Company, today announced it signed definitive agreements
to acquire 100% Membership interests of USA-based
Azure native digital product engineering company, Aureus Tech
Systems LLC ("Aureus").
Aureus is a niche Azure native digital product engineering
company focused on digital transformation using Data, AI and
Application Modernization. The 150-person company headquartered in
Denver, Colorado, with a
development center in Hyderabad, partners with Fortune 500
companies, including global Insurance and Reinsurance providers and
Healthcare & Life Sciences enterprises, in their cloud
transformation journeys. As a Microsoft-Certified Gold &
Co-sell Partner for Digital & App Innovation (Azure), Aureus
delivers bespoke Cloud and AI-based transformation solutions,
underpinned by a blend of domain expertise and industry acumen.
Through this acquisition, Happiest Minds strengthens its domain
capabilities in Insurance & Re-insurance, Healthcare and Life
Sciences verticals and strong Product & Digital Engineering
Services (PDES) Business.
Joseph Anantharaju, Executive
Vice Chairman, Happiest Minds, said, "I am delighted
to welcome Aureus' Team to the fast-growing Happiest Minds family.
Aureus strengthens our BFSI and Healthcare Industry
Groups, enhances our value proposition in these verticals and
contributes to our new customer-acquisition initiatives. We are
excited at the potential to cross-sell and up-sell Infrastructure,
Security, Automation, Analytics and GenAI offerings to
Aureus' customers to accelerate Happiest Minds'
growth."
Venkatraman Narayanan,
Managing Director & CFO, Happiest Minds, said, "We are
in a very exciting phase and are looking forward to a great showing
in FY25; which will be a mix of strong organic growth, including
consolidation play, with existing marquee customers like Macmillan
Learning and inorganic growth through the acquisition of
PureSoftware and now, Aureus. Aureus gets us a strong brand recall
in the insurance/reinsurance space with access to a market leader
with a compelling value proposition and a strategic presence in the
customer's long-term imperatives."
Abhishek Pakhira, CEO of Aureus Business, said, "There
is a significant shift in how insurance and healthcare providers
are looking at their business; we are seeing a secular trend of
developing and executing on a digital transformation roadmap that
helps them transform into tech-enabled services companies. Now more
than ever, technology services
providers need to combine the understanding of market
problems with technology intensity to deliver business outcomes. We
strongly believe that the deep digital native capabilities of
Happiest Minds and its scale will help us solve bigger problems for
this industry group. Everyone in the Aureus family is excited about
the journey."
EY acted as the exclusive financial advisor to the sellers of
Aureus Tech Systems, LLC.
About Happiest Minds Technologies
Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a
Mindful IT Company,
enables digital transformation for enterprises and
technology providers by delivering seamless customer experiences,
business efficiency and actionable insights. We do this by
leveraging a spectrum of disruptive technologies such
as: artificial
intelligence, blockchain, cloud, digital
process automation, internet of
things, robotics/drones, security, virtual/
augmented reality, etc. Positioned as 'Born Digital. Born
Agile', our capabilities span Product & Digital Engineering
Services (PDES), Generative AI Business Services (GBS) and
Infrastructure Management & Security Services (IMSS). We
deliver these services across industry groups: Industrial,
Manufacturing and Energy & Utilities, Healthcare & Life
Sciences, Retail, CPG & Logistics, Banking, Financial Services
and Insurance (BFSI), Hi-Tech and Media & Entertainment, and
EdTech. The company has been recognized for its excellence in
Corporate Governance practices by Golden
Peacock and ICSI. A Great Place to Work Certified™ company,
Happiest Minds is headquartered in Bangalore, India, with operations in the U.S.,
UK, Canada, Australia, and the Middle East.
Media Contact: Kiran Veigas |
media@happiestminds.com
About Aureus Tech Systems
Aureus Tech Systems is a niche Azure native product engineering
company helping Fortune 500 companies technologically evolve by
building Cloud, Artificial Intelligence, and Edge solutions. As a
designated Microsoft Solutions Partner for Digital & App
innovation, it offers Data Engineering, Artificial Intelligence,
and Application Development & Modernization services in the
Insurance & Re-insurance and Healthcare & Life Sciences
space. Aureus takes a consulting-led partnered approach to build
tailored Cloud and AI-driven digital solutions at an accelerated
rate, without compromising craftsmanship.
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SOURCE Happiest Minds Technologies Limited