Happiest Minds Technologies, a Bengaluru-headquartered emerging IT company, has acquired US-based digital transformation entity OSSCube. The new development is aimed to help the Indian company enter the market of enterprise open source solutions and expand its presence in the US.
With the latest deal, Happiest Minds is set to widen its portfolio of digital offerings and strengthen its business in North America, the market that is highly targeted by OSSCube. The team of 240 from OSSCube will now be a part of Happiest Minds. Moreover, the acquisition will bring the total workforce of Happiest Minds to 2,400 and active customer base to 170.
“We are delighted to welcome OSSCube team into the Happiest Minds family,” said Ashok Soota, executive chairman, Happiest Minds, in a joint statement.
Founded in 2008 by Indian entrepreneurs Lavanya Rastogi and Vineet Agarwal, OSSCube is one of the leading open source companies around the globe. It is an exclusive enterprise partner for the open source platform Pimcore in North America. Apart from the open source developments, the company recently expanded its verticals by adding cloud, big data, e-commerce and enterprise mobility.
“Coming together with Happiest Minds offers us the scale, global reach, complementary skills and expertise, enabling us to offer ever more innovative solutions to our global customers. We believe that the great cultural fit, marketplace synergies and critical mass of consulting and IP lead offerings will unlock tremendous value for all our stakeholders,” said Lavanya Rastogi, co-founder and CEO, OSSCube.
Rastogi will join Happiest Minds’ DTES business as the CEO. The Houston, Texas-based OSSCube will, on the other hand, operate as a subsidiary of Happiest Minds.
Goal towards a $100 million run rate
This is not the first acquisition by Happiest Minds. Earlier this month, the Indian company bought out IoT services startup Cupola Technology.
With all the latest developments, Happiest Minds is moving forward to become the fastest Indian IT services company to reach $100 million run rate. The company is also in plans to go public within the next three years.
Happiest Minds presently operates in Australia, Middle East, US, UK and the Netherlands. It offers domain-centric solution applying skills, IP and functional expertise in IT services, product engineering, infrastructure management and security using technologies such as big data analytics, Internet of Things, mobility, cloud, security and unified communications.