Happiest Minds has announced the acquisition of the Middle East business of Gavs Technologies Limited. The company has informed that this $1.7 million acquisition is expected to be completed by March 15, 2025. The Bengaluru-based IT company has signed definitive agreements with InnovazIT Technologies LLC, Dubai; Gavs Technologies LLC, Oman; and Gavs Technologies Saudi Arabia, Saudi Arabia to acquire 100% business interest in telecommunications and information technology.

The company said in an exchange filing that the move is aimed at consolidating Happiest Minds' existing customer relationship, contract and delivery teams in the Middle East, thereby strengthening its presence in the region. Earlier on January 15, the IT company had announced a strategic collaboration with Coca-Cola Beverages Vietnam to develop generative AI solutions to enhance strategic collaboration and organizational productivity.

Stock performance On Saturday, the company's shares closed at Rs 695 with a rise of 0.39 per cent. In the last one year, the company's shares have seen a decline of 20.47 per cent.