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To see operational details of merger later - Happiest Minds
This story was originally published at 11:28 IST on 1 September 2026
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--Happiest Minds CEO: Combined entity to serve over 800 customers
--CONTEXT: Happiest Minds comments in investor call on merger with ITC arm
--Happiest Minds CEO: Will discuss combined entity leadership post CCI nod
--Happiest Minds CEO: Limited overlap of clients with ITC Infotech
--Happiest Minds: Combined entity committed to retain all employees
--Happiest Minds: To focus on cross-selling, large deals for combined entity
--Happiest Minds: Had high-level talks on merger, to see details post CCI OK
By Anshul Choudhary and Shakshi Jain
MUMBAI – Happiest Minds Technologies Ltd. will discuss operational strategies related to cross-selling and leadership details for the combined entity of ITC Infotech and Happiest Minds after getting approval from the Competition Commission of India. So far, ITC Infotech and Happiest Minds have had "high-level" discussions about the merger and other "granular" details will be discussed in the coming months, Happiest Minds' management said in a conference call with investors and analysts Tuesday.
"...all the discussions have been at a high level, and we're waiting for the next phase to be completed before we get into more details and start that discussion, and some of the operational studies will only get realised once the merger takes place," the management said on being asked about strategies related to clients and employees of the combined entity. For now, the company said there was limited overlap of clients with ITC Infotech and both the companies are committed to retaining all employees. Details about leadership and employee strength will be decided later, it said.
Monday, both the companies announced plans to merge Happiest Minds into ITC Infotech and separately list the combined entity on exchanges. Further, Happiest Minds promoters--Ashok Soota and Ashok Soota Medical Research--will sell just over a 22% stake in Happiest Minds to ITC Infotech.
Happiest Minds expects a big opportunity for the combined entity to cross-sell products to clients of both companies. "ITC Infotech is stronger in SAP and enterprise applications...our strengths are more on AI, data, cloud, digital," Happiest Minds' management said. "Therefore, we should be able to cross-sell our offerings." The combined entity plans to serve over 800 clients across industries and geographies.
The combined entity will have to develop an index to look at the extent of cross-selling, Happiest Minds said. Further, the number of large deals and the conversion rate will be important parameters for the combined entity.
Shares of Happiest Minds fell sharply post the merger announcement. At 1108 IST, the stock traded nearly 12% lower at INR 358.85 on the National Stock Exchange. For the June quarter, the company had reported consolidated net profit of INR 676 million on revenues of INR 6.29 billion. End
Edited by Himanshi Gupta
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