Happiest Minds-ITC Infotech deal: India’s mid-tier IT firms are turning to M&A to stay competitive

Happiest Minds entered an agreement on Monday to sell a 22.1 per cent promoter stake worth ₹1,329 crore to ITC Infotech. The firms want to combine businesses to create a larger technology services company. They target $1 billion revenue by FY28, using this scale to compete more aggressively in global markets.