Happiest Minds Acquires Macmillan Learning India for ₹4.5 Crore
In a significant move to bolster its Edutech presence, Happiest Minds Technologies, spearheaded by Ashok Soota, has acquired 100% equity interest in Macmillan Learning India, a subsidiary of the esteemed Macmillan Group, USA. This acquisition aligns with Happiest Minds’ strategic focus on expanding its digital transformation services in the education sector.
Cost of Acquisition
Happiest Minds has invested ₹4.5 crore in cash to acquire 100,000 equity shares of Macmillan Learning India. This acquisition is expected to be finalized by April 30, 2023, after which Macmillan Learning India will become a wholly owned subsidiary of Happiest Minds Technologies.
Macmillan Learning India
Macmillan Learning India has been serving as an offshore development center for the Macmillan Group. Specializing in software development, the company has generated a turnover of ₹6.9 crore in fiscal 2022-23. Its services have been instrumental in supporting the Macmillan Group’s operations.
Strengthening the Edutech Vertical
This acquisition strengthens Happiest Minds’ existing Edutech vertical and positions the company as a strategic partner for Macmillan Group, a globally recognized leader in education and publishing. The collaboration will pave the way for innovative solutions that cater to the evolving needs of the education sector.
Happiest Minds Technologies
Happiest Minds Technologies is a leading digital transformation IT consulting and services company. Its focus on providing cutting-edge solutions has garnered recognition from industry experts and clients alike. This acquisition is a testament to Happiest Minds’ commitment to expanding its capabilities and delivering value to its partners.
Analysis
Industry analysts believe that this acquisition will significantly enhance Happiest Minds’ Edutech offerings. The partnership with Macmillan Group opens doors to global expertise and networks, fostering innovation and growth in this sector. Happiest Minds’ strong track record in digital transformation further enhances its potential to drive meaningful change in the education landscape.
Quote:
“This acquisition is a strategic investment that aligns with our vision to expand our footprint in the Edutech space,” said Ashok Soota, Executive Chairman of Happiest Minds Technologies. “We are delighted to partner with Macmillan Group and leverage their global expertise to deliver innovative solutions that transform the education experience for all.” – Ashok Soota, Executive Chairman, Happiest Minds Technologies
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