• Combined entity scale: Pending Competition Commission approval within 1.5 to 2 months, the merged entity will bring together more than ₹700 crore in revenue and 19,000 employees.
• Cross-selling potential: With only 1 or 2 overlapping top customers, the combined company plans to cross-sell distinct vertical and technical capabilities to target larger deal consolidations.
• Deal valuation terms: Happiest Minds is valued at a premium EV/EBITDA multiple of 15.1 times compared to 13.6 times for ITC Infotech, structured as a share swap that converts Happiest Minds holdings into ITC Infotech shares.
• Integration and retention: Management expects minimal integration risk due to shared cultural focus and a track record of retaining all talent across three acquisitions completed in three years.