Happiest Minds Reports Strong Results for the Fiscal First Quarter, Announces Million Meals Target to Akshaya Patra is Achieved

SAN JOSE, California, LONDON and BANGALORE, India, August 29, 2018 /PRNewswire/ --

Happiest Minds Technologies, a next generation Digital Transformation, Infrastructure, Security and Product Engineering Services Company, reported strong results for the fiscal first quarter and announced that the million meals target to Akshaya Patra has been achieved.

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At Happiest Minds, each business landmark is called a 'Smilestone', resonating with the company theme of happiness. Each Smilestone is commemorated with acts of giving. Earlier, the company set a goal to contribute a million meals to the midday meal scheme of the Akshaya Patra Foundation before IPO. Happiest Minds has been able to achieve the million meals mark with this Smilestone (7th anniversary celebration) contribution and has now set a goal towards contributing an additional million meals by IPO launch in FY'23.

The first quarter of FY19 has witnessed all round growth and some of the new wins include:

• Real-time streaming platform for a large media and entertainment company
• Connected IoT products and services for leading US smart & sustainable water solutions provider
• Next-generation network operations center for a US-based telecom service provider
• Data platform for a leading professional education & learning company
• Security Operation Center for one of the largest Indian retailers
• Digital contact center modernization and service desk automation for a US Bank

Ashok Soota, Executive Chairman of Happiest Minds, said, "We are excited at the strong quarter results and credit goes to all the business units, CoEs, Geos, Practices and enabling functions for their contributions. Special mention goes out to the Product Engineering Services Business Unit for contributing the most cumulatively towards the Smilestones."

Dr. Sharon Andrew-Rajkumar, Director & Happiness Evangelist of Happiest Minds, said, "Our 7^th anniversary Smilestone is a good time to reflect on our journey and be proud of what we have created - our technologies and our culture. The Mindfulness initiative of Being Mindful and Doing Mindful, has established Happiest Minds as the first Mindful IT Company in the country and possibly the world. More than half of our teams have participated in Mindfulness training thus far."

Happiest Minds is on track to reach an annualized $100 million run rate by Q4 FY'19. The company plans to launch its IPO in FY'23 and in the interim provide a monetization event for investors/team by FY'20.

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, AI & cognitive computing, Internet of Things, mobility, cloud, security, unified communications, SDN-NFV, RPA, 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, edutech, 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 and Middle East.

About The Akshaya Patra Foundation  

The Akshaya Patra Foundation is a not-for-profit organisation headquartered in Bengaluru, India. The organisation strives to fight issues like hunger and malnutrition in India. By implementing the Mid-Day Meal Scheme (MDMS) in the Government schools and Government aided schools, The Akshaya Patra Foundation aims not only to fight hunger but also to bring children to schools. Since 2000, the organisation has worked towards reaching more children with wholesome meals on every school day. Akshaya Patra is continuously leveraging technology to cater to millions of children. Its state-of-the-art kitchens have become a subject of study and they attract curious visitors from around the world. In partnership with the Government of India and various State Governments along with continuous support from philanthropic donors and well-wishers, Akshaya Patra has grown from humble beginnings of serving just 1,500 school children across 5 schools in Bengaluru. Today, The Akshaya Patra Foundation is the world's largest (not-for-profit) run Mid-Day Meal Programme serving wholesome meals to over 1.7 million children from 14,314 schools across 12 states in India.