Happiest Minds and ITC Infotech Announce Merger to Build AI-First Technology Enterprise

BENGALURU, India — August 31, 2026 — Happiest Minds Technologies Limited and ITC Infotech India Limited have announced a strategic combination that brings together two established technology organizations with complementary capabilities, industry expertise and global customer relationships. The proposed merger is aimed at creating a scaled, AI-first technology services enterprise with the capabilities and reach required to support organizations navigating the rapidly evolving digital and artificial intelligence landscape.

The strategic combination represents an important step toward building a larger technology services organization focused on artificial intelligence, digital transformation, cloud computing, cybersecurity, data, engineering and other next-generation technology solutions. By bringing together their respective strengths, Happiest Minds and ITC Infotech intend to create a broader technology platform capable of serving customers across industries and geographies.

A key objective of the proposed combination is to build an organization with significant scale. The combined enterprise is expected to target approximately US$1 billion in annual revenue by FY28, providing a stronger foundation for continued investment in technology, innovation, talent and customer solutions.

Artificial intelligence is expected to remain at the center of the combined company's growth strategy. Enterprises across the world are increasingly adopting generative AI, intelligent automation, machine learning and data-driven technologies to improve productivity, enhance customer experiences and create new business models. The proposed combination is designed to bring together capabilities that can help organizations move from experimentation with AI toward practical, enterprise-wide implementation.

Happiest Minds brings expertise across digital business transformation, product engineering, cloud, cybersecurity and artificial intelligence, while ITC Infotech contributes extensive enterprise technology capabilities and experience supporting organizations through technology-led transformation. Combining these capabilities is expected to create opportunities to deliver a broader range of solutions to customers.

The expanded organization will be positioned to address technology requirements across multiple sectors, including financial services, healthcare, manufacturing, retail, technology and other enterprise markets. Its broader portfolio is expected to include digital engineering, cloud modernization, data and analytics, cybersecurity, enterprise applications and AI-enabled solutions.

The proposed merger also has the potential to provide customers with access to a larger pool of technology professionals and specialized expertise. As businesses increasingly require partners that can support both strategic technology initiatives and large-scale implementation programs, greater organizational scale can enable broader delivery capabilities and deeper investments in emerging technologies.

Another important element of the combination is its potential global reach. By bringing together complementary customer relationships, delivery capabilities and industry knowledge, the combined organization intends to strengthen its ability to support enterprises across different markets. This broader presence can help the company respond to growing demand for technology services and AI-led transformation worldwide.

The transaction is subject to applicable regulatory, shareholder and other required approvals. The companies will continue to work through the necessary processes before the proposed combination can be completed.

The announcement comes during a period of significant change in the global technology industry. Businesses are increasing investments in artificial intelligence while simultaneously modernizing their cloud infrastructure, strengthening cybersecurity and improving their digital platforms. Technology service providers with capabilities spanning AI, engineering, data, cloud and enterprise transformation are increasingly important to organizations seeking to execute these initiatives at scale.

The proposed Happiest Minds and ITC Infotech combination is intended to capitalize on these long-term market opportunities by creating a technology services organization with greater scale, broader capabilities and an AI-first orientation.

For customers, the combination is expected to create access to a more comprehensive technology portfolio and expanded expertise. For employees and technology professionals, the larger organization could provide opportunities to work on a broader range of technology transformation programs and emerging AI initiatives. For technology partners, the combined platform is expected to provide a larger ecosystem through which innovative solutions can reach enterprise customers.

As artificial intelligence continues to reshape industries and redefine how organizations operate, the companies believe that scale, specialized expertise and the ability to integrate multiple technology disciplines will become increasingly important. The proposed merger is therefore positioned as a strategic move to build a stronger technology services enterprise prepared for the next phase of digital transformation.

With a focus on AI-first innovation, global technology services, digital transformation and sustainable growth, Happiest Minds and ITC Infotech aim to create an organization capable of delivering meaningful technology outcomes for customers while building a strong foundation for future expansion.

The proposed combination reflects the companies' ambition to build a larger, more capable and future-ready technology enterprise, with a long-term objective of helping organizations adopt emerging technologies and accelerate their digital transformation journeys.