Introduction:
Leading IT company has entered into a strategic agreement to acquire 100% of Gavs Technologies’ Middle East business, including key entities in Saudi Arabia, Dubai, and Oman. This acquisition strengthens its position in the region’s telecom and IT sectors.
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Share price movement of Happiest Minds Technologies:
On February 3, 2025, Happiest Minds Technologies Ltd opened at ₹699.00, up 0.48% from its previous close of ₹695.70. The stock reached a high of ₹722.45 (3.85%) and a low of ₹699.00. By 10:39 AM, it traded at ₹720.15, a 3.51% increase, with a market cap of ₹10,966.07 crore.
Happiest Minds Acquires Middle East Business:
Happiest Minds Technologies Limited has entered into Share Purchase Agreements with Gavs Technologies Limited to acquire 100% of its Middle East business. The acquisition includes InnovazIT Technologies LLC, Gavs Technologies LLC, and Gavs Technologies Saudi Arabia, enhancing the company’s presence in the region.
The deal, valued at US$ 1.7 million, aims to consolidate existing customer relationships and key contracts, enabling the company to strengthen its position in the Middle East. The acquisition will be completed by March 15, 2025, with a cash consideration.
With a combined annual revenue of approximately US$6.4 million, the acquisition will provide Happiest Minds Technologies with strategic growth opportunities in the Middle East’s telecommunications and IT sectors, supporting its expansion goals.
Recent news on Happiest Minds Technologies:
As of January 15, 2025, Happiest Minds Technologies Ltd announced a strategic collaboration with Coca-Cola Beverages Vietnam to develop generative AI solutions aimed at improving productivity and operational efficiency, addressing key inefficiencies within the organization.
Stock performance of Happiest Minds Technologies for Period of 1 week, 6 months and 1 year:
Happiest Minds Technologies Limited has seen a 1.13% increase in stock price over the past week. However, it has experienced a 10.5% decline over the last six months and a 20.3% drop over the past year, indicating overall underperformance in recent periods.
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Shareholding pattern of Happiest Minds Technologies:
| All values in % | Dec 2024 | Sep 2024 | Jun 2024 |
| Promoter | 44.20% | 44.20% | 44.20% |
| FII | 5.30% | 5.30% | 5.30% |
| DII | 6.10% | 4.20% | 2.90% |
| Public | 42.80% | 44.60% | 45.80% |
| Others | 1.50% | 2% | 1.80% |
About Happiest Minds Technologies:
Happiest Minds Technologies Ltd (NSE: HAPPSTMNDS) is a next-generation IT solutions and services company, offering expertise in cloud computing, mobility, analytics, IoT, and more. It specializes in digital transformation, product engineering, infrastructure management, and consulting across various industries.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
