ITC Infotech and Happiest Minds Technologies have announced a major merger that will create a much larger technology services company with an ambition to become a $1 billion-a-year technology business by FY28<\/strong>.<\/p>\n\n\n\n As the first step in the transaction, ITC Infotech will acquire a 22.1% stake in Happiest Minds<\/strong> from its promoter group for approximately \u20b91,330 crore<\/strong>. The stake will be purchased in two tranches at an average price of around \u20b9395 per share.<\/p>\n\n\n\n The acquisition will then be followed by the merger of Happiest Minds with ITC Infotech through a share-swap arrangement.<\/p>\n\n\n\n How the Merger Will Work<\/strong><\/p>\n\n\n\n Under the proposed share-swap arrangement, shareholders of Happiest Minds will receive 25 shares of ITC Infotech for every 81 shares of Happiest Minds<\/strong> they own.<\/p>\n\n\n\n Following the merger, ITC Limited is expected to become the promoter of the combined company with approximately 73.4% ownership<\/strong>. The remaining 26.6% will be held by existing Happiest Minds shareholders.<\/p>\n\n\n\n The transaction remains subject to approvals from shareholders, stock exchanges, the Competition Commission of India and the National Company Law Tribunal.<\/p>\n\n\n\n A 19,000-Employee Technology Giant<\/strong><\/p>\n\n\n\n The combined business is expected to have more than 19,000 employees<\/strong>, serve over 800 customers<\/strong> and operate across more than 30 countries.<\/p>\n\n\n\n The companies believe their businesses are highly complementary. Happiest Minds brings capabilities in artificial intelligence, digital engineering, cloud, data, analytics and cybersecurity<\/strong>, while ITC Infotech has strong expertise in enterprise transformation, SAP, product lifecycle management, Industry 4.0 and industry-specific technology solutions.<\/p>\n\n\n\n Together, these capabilities could give the merged company a significantly broader technology portfolio.<\/p>\n\n\n\n Why ITC Is Making the Move<\/strong><\/p>\n\n\n\n The merger represents a major expansion of ITC\u2019s technology ambitions. ITC Infotech has already established itself as a technology services business, but combining it with the listed Happiest Minds would significantly increase its scale.<\/p>\n\n\n\n The proposed transaction also gives ITC a stronger presence in high-growth areas such as AI, cloud computing and cybersecurity at a time when businesses globally are increasing technology spending.<\/p>\n\n\n\n Happiest Minds Gets Greater Scale<\/strong><\/p>\n\n\n\n For Happiest Minds, the merger provides access to the much larger ITC ecosystem and potentially greater resources for global expansion.<\/p>\n\n\n\n![\"Happiest](\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-02-at-8.34.42-AM-1024x576.png\")
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