ITC Infotech, a wholly-owned subsidiary of diversified conglomerate ITC Ltd, will acquire a 22.1 per cent stake in IT firm Happiest Minds Technologies for about Rs 1,330 crore, as part of a strategic deal to merge the two companies to form an AI-first enterprise with a USD 1 billion turnover by FY28. The acquisition of 3,36,61,700 equity shares will be made from Happiest Minds’ promoter Ashok Soota and Ashok Soota Medical Research LLP in two tranches, according to regulatory filings.