Happiest Minds Technologies Recognised Among Top 100 India’s Best Workplaces for Women 2024

Key Takeaways from the Announcement

• Happiest Minds Technologies has been acknowledged for its commitment to creating a workplace where women feel supported, valued, and empowered.
• The recognition is based on a comprehensive assessment of women's workplace experiences and the company’s policies promoting inclusion.
• The company continues to focus on initiatives that advance gender equality and professional development opportunities for women.

Happiest Minds has consistently received accolades for its efforts in cultivating a people-orientated workplace. In addition to this recent recognition, the company has achieved notable honours such as being listed among the 50 Best Firms for Data Scientists to Work for in 2024 and ranking in the Top 50 India’s Best Workplaces in IT & IT-BPM for 2023. It has also been recognised in previous years as one of the Top 50 India’s Best Workplaces for Women from 2020 to 2023.

Commenting on the recognition, Deepti Moolya, Associate Director & Lead, DEIB, Happiest Minds, said, "At Happiest Minds, inclusivity is at the heart of everything we do. Being recognized among India's Best Workplaces for Women is a testament to our continuous efforts to create an environment where women feel supported and respected and have equal opportunities to advance and succeed. This achievement motivates us to keep pushing the boundaries of being a truly inclusive workplace."

Sachin Khurana, Chief People Officer, Happiest Minds, added, "Our recognition as one of the best workplaces for women is a milestone and reflects our commitment to nurturing a culture that prioritizes the well-being, growth, and success of our employees. We believe that an inclusive workplace leads to greater innovation, engagement, and overall success, and we will continue to foster a culture that empowers all our employees to reach their full potential."

As part of its ongoing commitment to diversity and inclusion, Happiest Minds will continue to implement initiatives aimed at promoting gender equality and fostering a culture of respect and collaboration. The company recognises that empowering women in the workplace is essential not only for their professional growth but also for driving innovation and success within the organisation.

This recognition by Great Place To Work India serves as a testament to Happiest Minds Technologies' unwavering dedication to enhancing workplace culture and ensuring that all employees can thrive in an environment that values inclusivity and support.

About Happiest Minds Technologies Limited

Happiest Minds Technologies Limited is an IT company that centres its efforts on enabling businesses and technology providers in their digital transitions. That is, by providing seamless customer experiences, increasing operational efficiencies within business, and laying out action points for their future course of action. Their deep knowledge of advanced technologies includes artificial intelligence, blockchain, cloud computing, digital process automation, the Internet of Things (IoT), robotics, security, and virtual/augmented reality.

Positioned as "Born Digital. Born Agile," Happiest Minds offers services in Product & Digital Engineering, Generative AI Business Services, and Infrastructure Management & Security Services. Business verticals include banking, financial & insurance, edtechs, healthcare, high-tech, media & entertainment, industrial manufacturing, energy & utilities, and retail. 

Key Takeaways from the USFDA Approval

• Alembic Pharmaceuticals has received USFDA approval for Alcaftadine Ophthalmic Solution, expanding its product portfolio in the ophthalmic category.
• The approval represents a significant milestone for Alembic as it continues to enhance its presence in the global pharmaceutical market.
• With this approval, Alembic now has a total of 216 ANDA approvals from the USFDA, including 189 final approvals and 27 tentative approvals.

As per a stock exchange filing, the product is therapeutically equivalent to the reference listed drug product (RLD), Lastacaft solution 0.25%, manufactured by AbbVie Inc., according to the stock exchange filing. The Alcaftadine Ophthalmic Solution is used for temporarily relieving itchy eyes due to allergens like pollen, ragweed, grass, animal hair, and dander.

Alembic Pharmaceuticals has been a frontrunner in health care since its inception in 1907, emerging as a firm committed to quality and innovation. With state-of-the-art research and manufacturing facilities meeting stringent regulatory standards, including the USFDA, the company operates in several countries.

After this approval, Alembic now has 216 ANDA approvals by the USFDA, which includes 189 final approvals and 27 tentative approvals. In over 5,000 generalised activities, the marketing team makes sure that its brands are among the most recognisable among health professionals and patients. 

About Alembic Pharmaceuticals Limited

Alembic Pharmaceuticals Limited, founded in 1907, is a research-driven pharmaceutical company based in India. It is publicly listed and produces generic medicines for global markets. Alembic's advanced research and manufacturing facilities are approved by regulators in several developed countries, including the USFDA. The company is a leader in branded generics in India, with a marketing team of over 5,000 promoting its well-known products to doctors and patients across the country.

Key Takeaways from the Acquisition 

• Cyient DLM Limited has brought in a 100% stake in Altek Electronics through its wholly owned subsidiary Cyient DLM Inc., indisputably enhancing Cyient's business within North America.
• Altek Electronics, an electronic manufacturing services (EMS)-related company in the U.S., had 37 million dollars in turnover in 2023, with a multi-sector pattern of clientele including the medical, industrial, and defence sectors.
• With this acquisition comes certain assurances in the perspective of synergies, which strategically position Cyient DLM in the industrial, medical, and defence sectors.

Altek Electronics, headquartered in Connecticut, USA, is known for providing services such as printed circuit board assemblies (PCBA) and upper-level assembly across various industries. With a turnover of USD 37.2 million in 2023, the acquisition aims to create growth synergies for Cyient DLM’s future expansion in key sectors.

The deal is structured as an enterprise value transaction on a debt-free, cash-free basis. The upfront payment is USD 23.4 million, with an additional earnout of up to USD 5.8 million based on Altek’s performance.

About Cyient DLM Limited

Established in 1993, Cyient DLM (NSE: CYIENTDLM) is a leading provider of integrated electronics manufacturing solutions. Throughout the product life cycle, integration combines design-led manufacturing (DLM) with engineering and R&D capacity. Specialised in high-reliability electronic systems applied in safety-critical industries, it extends design, manufacturing, testing, and certification support to deliver the highest standards of performance, safety, and reliability. Cyient customers are in the aerospace & defence, industrial, and medical & healthcare segments.

About Altek Electronics

Altek Electronics is a leading electronics contract manufacturer based in Torrington, Connecticut. With over 50 years of expertise in electronic assembly, Altek specializes in high-mix and low-to-medium volume PCB assemblies across a variety of industries, including medical, industrial, aerospace, and defence; it has developed a reputation for exceptionally delivering quality, reliability, and customer service. 

Key Takeaways from the Announcement

• Cyient DLM's acquisition of Altek Electronics extends its capabilities in the medical, healthcare, and industrial sectors, and from this alone, it brings in a diversified customer pool.
• With an ITAR certification, this partnership positions Cyient DLM to capably meet the growing market demands in the US defence sector.
• The deal will tremendously increase manufacturing capacity by expanding by an additional 80,000 square feet of manufacturing space to serve clients around the globe.

Altek Electronics focuses on the medical & healthcare sectors as well as the industrial sector, which will enhance Cyient DLM's offerings and increase its major clientele into the fortunes of Fortune 500. This partnership, therefore, not only diversifies the customer base of Cyient DLM but also complements the strategic roadmap for increasing geographic presence and proximity to customers.

Commenting on the acquisition, Anthony Montalbano, CEO of Cyient DLM, said, "This acquisition is more than just an expansion, it is an important milestone for Cyient DLM. With the addition of Altek Electronics' expertise, we are enhancing our manufacturing capability & capacity, and strengthening our competitive position in the North American market. This allows us to continue offering world-class services that meet the evolving needs of our customers." 

David Altschuler, CEO of Altek Electronics, said, "Joining forces with Cyient DLM opens new avenues for us to scale our operations and leverage their global resources and industry expertise. As we enter this new chapter, we remain committed to upholding the values that have defined our success and look forward to leveraging expanded resources and capabilities to better serve our customers, suppliers, and stakeholders."

The acquisition reflects Cyient DLM's commitment to expanding its international footprint and positioning Cyient as a leader in the EMS sector for highly regulated and safety-critical industries. This acquisition is appropriately assessed as a major push for Cyient DLM's next growth path, cementing the long-lasting shot to success and bestowing higher value for the customers worldwide. 

About Cyient DLM Limited

Cyient DLM (Established: 1993, NSE: CYIENTDLM) is a leading Integrated Electronics Manufacturing Solutions provider that offers Design Led Manufacturing (DLM) solutions across the entire product lifecycle. With a focus on safety-critical electronics in highly regulated industries, Cyient DLM delivers design, manufacturing, testing, and certification support to ensure the highest standards of reliability, safety, and performance. The company serves customers in diverse sectors, including aerospace & defence, industrial, and medical & healthcare.

About Altek Electronics 

Altek Electronics is a premier electronics contract manufacturing services provider based in Torrington, Connecticut. With over five decades of experience, Altek specialises in high-mix, low-to-medium volume PCB assemblies and has built a reputation for delivering exceptional quality, reliability, and customer service across various industries, including medical, industrial, aerospace, and defence.