New Delhi, Sept. 1 -- The Bengaluru-based IT services company, Happiest Minds Technologies, has approved a draft scheme of amalgamation with ITC Infotech India, subject to statutory and regulatory approvals, according to an exchange filing.

The Board of Directors of Happiest Minds, at its meeting on August 31, approved the proposed merger by way of absorption with ITC Infotech. The company said the scheme is aimed at combining the complementary capabilities, customer relationships and talent pools of the two companies.

"The Board has considered and approved (subject to necessary statutory and regulatory approvals) the draft scheme of amalgamation," the company said in the filing.

Under the proposed scheme, ITC Infotech will issue and a...