Happiest Minds Technologies Ltd announced plans to acquire 100 per cent membership interests of US-based Azure native digital product engineering company Aureus Tech Systems LLC.
Aureus is headquartered in Denver, Colorado, with a development centre in Hyderabad, focusing on digital transformation using data, AI, and application modernisation. The company partners with Fortune 500 companies, including global Insurance and reinsurance providers, and healthcare and life sciences enterprises.
The company said the acquisition aims to strengthen Happiest Minds’ domain capabilities in the insurance and re-insurance, healthcare, and life sciences verticals, as well as its product and digital engineering services (PDES) business..
Venkatraman Narayanan, Managing Director and 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.”
EY was the financial advisor to the sellers of Aureus Tech Systems, LLC. The shares were down by 0.72 per cent to ₹816.10 at 11 am on the BSE.