Happiest Mind acquires PureSoftware for 780 crores.
https://www.business-standard.com/companies/news/happiest-minds-to-acquire-noida-based-puresoftware-for-94-5-million-124042500586_1.html
Couple of pointers from this interview.
PureSoftware Acquisition Will Be EPS Accretive From Day 1: Happiest Minds Technologies | CNBC TV18
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Revenue growth of PureSoftware is strong, last year they closed at $45 million. (351 cr topline last year on consolidated basis. )
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This acquisition will be EPS accretive from Day 1.
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Margins are not given yet for PureSoftware but it’s a reasonable good margin and healthy business. Long standing margins guidance 22-24% still intact with this acquisition. There is room for further margin improvements with efficiencies that will come with integration in next 3-4 quarters.
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BFSI and Healthcare → 50% comes from both of it. Addition 1200 employees.
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Focus is to keep growing not at cost of profitability.
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144 crores is still deferred based on them achieving certain revenue and margin targets by end of 2024.
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Happiest Mind has a USD 200 million dollar revenue currently, with this acquisition, top line would be increased by USD 245 million and BFSI and Healthcare would increase to USD 52.5 million for both.
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Post this acquisition 600 crores would be left on book.
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