With the business on track, IT services firm Happiest Minds is now actively scouting for acquisitions to further boost its growth. It was founded by industry veteran and former MindTree Chairman Ashok Soota in 2011, had a revenue run rate of USD 75million.
The Chief Strategy and marketing officer of Happiest Minds, Salil Godika said that “The theme for this year will be acquisitions. We have grown organically for three-four years and now this is a phase of the two-phase journey leading up to an IPO.”
The company also gave a statement that “So far, 100 percent of our revenue is organic, but we will do some acquisitions. We are reasonably close to one Indian loT company, hopefully, we will be able to close it this quarter. We have a couple of other targets in fairly advanced stages.” And it would go in for a public offering six-seven years after its launch. The acquisitions would likely happen in the US or UK, and the company could possibly have an Indian footprint. Happiest Minds gets about 70 percent of its business from the US, around 20 percent from the UK and Europe and 10 percent from India.
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