Happiest Minds Technologies to Acquire USA-Based Aureus Tech Systems LLC

On May 9, 2024, Happiest Minds Technologies informed the stock exchanges that it signed definitive agreements to acquire 100% Membership interests of USA-based Azure native digital product engineering company Aureus Tech Systems LLC (Aureus).

Aureus is a specialised Azure-centric digital product engineering firm, that emphasises digital transformation through AI, Data, and Application Modernisation. The company has headquarters in Denver, Colorado, and a development centre in Hyderabad. Aureus is a 150-person company that collaborates with Fortune 500 firms, particularly in the global Insurance, Reinsurance, Healthcare, and Life Sciences sectors. As a Microsoft Certified Gold and Co-sell Partner for Digital and App Innovation (Azure), Aureus offers tailored Cloud and AI-driven transformation solutions, leveraging a mix of domain knowledge and industry insight.

With this acquisition, Happiest Minds strengthens its domain capabilities in verticals like Healthcare, Life Sciences, Insurance and Reinsurance and also robust Product and Digital Engineering Services (PDES) Business.

Commenting on the acquisition, the Executive Vice Chairman of Happiest Minds, Joseph Anantharaju, said, “I am delighted to welcome Aureus’ Team to the fast-growing Happiest Minds family. Aureus strengthens our BFSI and Healthcare Industry Groups, enhances our value proposition in these verticals and contributes to our new customer acquisition initiatives. We are excited at the potential to cross-sell and up-sell Infrastructure, Security, Automation, Analytics and GenAI offerings to Aureus’s customers to accelerate Happiest Minds’ growth.”

The CEO of Aureus Business, Abhishek Pakhira, said, “There is a significant shift in how insurance and healthcare providers are looking at their business, we are seeing a secular trend of developing and executing on a digital transformation roadmap that helps them transform into tech-enabled services companies. Now more than ever, technology services providers need to combine the understanding of market problems with technology intensity to deliver business outcomes. We strongly believe that the deep digital native capabilities of Happiest Minds and its scale will help us solve bigger problems for this industry group. Everyone in the Aureus family is excited about the journey.”

On May 9, 2024, the share price of Happiest Minds Technologies Ltd opened at ₹830.25, touching the day’s low at ₹817.00, as of 10:48 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.