Happiest Minds Technologies Limited has entered into a Share Purchase Agreement to acquire the entire equity interest in Macmillan Learning India Private Limited. Upon completion of the transaction, Macmillan Learning India will become a wholly-owned subsidiary of Happiest Minds Technologies Limited, subject to the terms outlined in the Agreement.
This acquisition serves to bolster Happiest Minds Technologies Limited’s robust presence in the Edutech sector. Additionally, it establishes the company as a strategic partner for the Macmillan group, a global leader in learning, education, and publishing.
The Purchase Consideration for this acquisition amounts to Rs. 4.5 crores, payable in cash.
Macmillan Learning India, currently a wholly-owned subsidiary of the Macmillan group, USA, primarily provides software development services to its parent company and operates as an “Offshore Development Centre.”
Furthermore, it’s worth noting that the shares of Happiest Minds Technologies Limited were last traded on the BSE at Rs. 812.10, with a total trading volume of 62,223 shares across 4,852 trades.
Source: EquityBulls