Acquisitions in Uttar Pradesh, India

New Delhi-based investment consultancy Capital IQ has acquired Indian drone manufacturer Karman Drones Pvt. Ltd for an undisclosed sum, valuing the company at about Rs 75 crore (roughly $9 million). Capital IQ said the acquisition will accelerate Karman's growth, support expansion and help position the business for a potential IPO in the coming years.

Capital Square Partners led a strategic growth equity investment in inMorphis with a co-investment from ServiceNow Ecosystem Ventures, marking inMorphis' first institutional funding. The capital will accelerate inMorphis' go-to-market expansion, development of GenAI-enabled ServiceNow offerings, hiring and delivery-center expansion across India and ASEAN, and enable tuck‑in acquisitions to scale capabilities.

Happiest Minds Technologies Limited has signed definitive agreements to acquire 100% of PureSoftware Technologies Private Limited for US$94.5 million (₹779 Crores), comprising an upfront payment and deferred consideration tied to FY25 performance targets. The acquisition (PureSoftware: ~1,200 employees; FY24 revenue ~US$43M) strengthens Happiest Minds' digital engineering, BFSI and healthcare capabilities and expands its geographic presence including the USA, UK, Mexico and several APAC and African offices.

BPEA Private Equity Fund VII (BPEA EQT) has sold its remaining 26.6% stake in Coforge through a USD 924 million block trade, representing a PE exit/realization. Coforge, headquartered in Noida, India, is a digital IT services and technology consulting provider serving financial services, insurance and travel clients and crossed USD 1 billion of revenue under BPEA EQT's ownership.