Happiest Minds Turns Profitable in its Fourth Full Year of Operations, Expands Global Presence

05 Jul, 2016, 10:33 ET from Happiest Minds Technologies Private Limited

BANGALORE, July 5, 2016 /PRNewswire/ --

- Reports Annualized Run Rate of $62 Million; 27% Growth in Rupee - Terms and 20.4% Constant Currency Growth in Dollar Terms  

- Won 15+ Awards and Recognitions in FY16    

- Strong Focus on Digital Transformation and IPs Yield Results 

Happiest Minds Technologies, a next generation digital transformation, infrastructure and security and product engineering services company today announced its annualized run rate of $62 million and that it has achieved profitability in only its fourth full year of operations. The company is now looking to expand its global footprint by opening operations across Australia, the Middle East and Turkey.

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Happiest Minds continues to leverage its efforts on SMAC+ technologies including increased focus on IoT, security and customer experience. Digital transformation was the fastest growing segment and contributed over half of Happiest Minds revenue. 10% of sales came from Intellectual Property offerings.

Happiest Minds has decided to strategically extend its focus to new avenues of disruptive technologies like artificial intelligence (AI), cognitive computing, and also on building wearables. With over 1,900 specialized people, Happiest Minds serves more than 115 customers, amongst whom several are Fortune 1000.

"Our Mission of 'Happiest People. Happiest Customers' has helped in our endeavor to innovate and stay ahead of the competition by attracting and retaining some of the brightest minds in the industry. Our success is largely attributable to our uniquely differentiated culture and I would like to thank all members of our team who have been happiness evangelists for each other, our customers and society," said Ashok Soota, Executive Chairman, Happiest Minds Technologies.

"We have been able to achieve profitability in the fourth full year of operations because we function with the nimbleness of a startup, while adding value to our customers through investments in IP and continuously enhancing customer experience. Our unique solutions led delivery helps our customers on their digital transformation journey," said Sashi Kumar, CEO and MD, Happiest Minds Technologies.

Happiest Minds is on track to be the fastest Indian IT services company to achieve $100 million in revenue and plans to go public within the next three years.

Happiest Minds celebrates its 'Smilestones' by contributing towards the Akshay Patra's midday meal program. This year's smilestones of achieving profitability and being recognized for best culture practices has brought the cumulative total to 580,000 meals. Happiest Minds is on the way to meet its stated goal of a million meals before IPO.

Happiest Minds received several recognitions this year, including more than 15 awards, in areas of intellectual property and thought leadership, high revenue growth, and a differentiated culture. The company has received accolades from leading industry analysts such as Gartner, Forrester, Ovum, Zinnov, Nelson Hall in the chosen areas of expertise such as retail, advanced analytics, application security, IoT, cloud security, identity & access management, software product engineering, R&D engineering, etc.

Happiest Minds is also engaged in partnerships with players such as Microsoft to strengthen its IoT + Azure offerings; Intel for their Network Builders Ecosystem; ARM connected partners; IIS Technology Partnership and many others.

Recent major awards and recognitions include: 

• Recognition by IAOP as a 'Rising Star' 2016 and a top company for Programs for Innovation, overall revenue, revenue growth, number of employees, employee growth, number of countries worldwide

• GOLD at the InfoSecurity Product Guide's Global Excellence Award 2016 for Happiest Minds' 'ThreatVigil' a cloud-based threat management solution

• Winner in 2016 India Emerging 20 (IE20) programme at London

• Ranked 17 on the Deloitte Technology Fast 50 India 2015. Ranked 142 on Deloitte Technology Fast 500 Asia 2015

• Recognized in the Top 5 Best Companies to Work in India among Emerging Organizations in IT- BPM - 2015

• GOLD at the Express I.T. Awards 2015 for Happiest Minds' IOT Platform - MIDAS

About Happiest Minds Technologies: 

Happiest Minds enables digital transformation for enterprises and technology providers by delivering seamless customer experience, business efficiency and actionable insights through an integrated set of disruptive technologies: big data analytics, internet of things, mobility, cloud, security, unified communications, etc. Happiest Minds offers domain centric solutions applying skills, IPs and functional expertise in IT services, product engineering, infrastructure management and security. These services have applicability across industry sectors such as retail, consumer packaged goods, e-commerce, banking, insurance, hi-tech, engineering R&D, manufacturing, automotive and travel/transportation/hospitality.

Headquartered in Bangalore, India; Happiest Minds has operations in the US, UK, The Netherlands, Australia, Middle East and Turkey.

For more information, visit: http://www.happiestminds.com

Media Contact: media@happiestminds.com

SOURCE Happiest Minds Technologies Private Limited