ITC Infotech-Happiest Minds Merger to Create $1 Billion AI-First Technology Services Company

The proposed combination is expected to create an AI-first technology services company targeting $1 billion in annual revenue by FY28. ITC Infotech has announced plans to acquire a 22.1% minority stake in Happiest Minds Technologies for ₹1,330 crore, followed by a proposed merger of the two technology services companies. The stake will be purchased from Happiest Minds’ promoter and promoter entities in two tranches at an average price of approximately ₹395 per share. ITC Infotech, a wholly owned