At 83, IT Titan Ashok Soota Orchestrates Another Major Exit with Happiest Minds-ITC Deal
BENGALURU – At an age when most industry stalwarts have long since settled into retirement, Ashok Soota continues to defy expectations. The 83-year-old technology veteran has once again made headlines, striking a landmark deal to sell his 22.1% stake in the Bengaluru-based IT services firm, Happiest Minds, to ITC Infotech for Rs 1,330 crore.
The transaction marks a significant corporate shift, effectively bringing the homegrown IT player into the expansive fold of the ITC conglomerate. While Soota may appear physically more fragile to some, industry observers emphasize that his business acumen remains as sharp and calculated as it was decades ago.
A Legacy of Entrepreneurial Success
Soota’s career is a masterclass in sustained professional endurance. After earning his engineering degree from IIT Roorkee, he made his mark in the early days of the Indian IT revolution. In 1985, he was recruited by Azim Premji to help build the nascent IT division at Wipro, eventually becoming the public face of the company over his 14-year tenure.
Never one to rest on his laurels, Soota co-founded Mindtree in 1999 at the age of 56. The venture, started by a team of ten professionals with a modest $1.6 million pool, grew into a global powerhouse that was eventually acquired by L&T for over $2 billion—though Soota had moved on from the company by 2011.
In 2011, at age 68, he launched his third major venture, Happiest Minds. The company’s trajectory has been nothing short of stellar, highlighted by a 2020 IPO that was oversubscribed by a staggering 150 times.
Pivoting Toward Philanthropy and Healthcare
While the proceeds from his latest exit remain under his private purview, Soota has made his broader intentions clear in recent years. His focus has shifted decisively toward the healthcare sector, specifically in aging and neurological research.
Four years ago, at 79, Soota launched Happiest Health, an initiative envisioned as a comprehensive health information portal similar to WebMD, which has since expanded to include diagnostics and clinics.
His commitment to social impact is formalized through an overarching holding trust and a medical research trust designed for perpetuity. So far, he has pledged Rs 200 crore to Skan, a not-for-profit entity focused on aging and neurological research. This initiative leverages high-level partnerships with the Centre for Brain Research (CBR) at the Indian Institute of Science (IISc), St John’s Geriatric Centre (SJGC), IIT-Roorkee, and the National Institute of Mental Health and Neurosciences (Nimhans).
The “Buffett” Mentality
Soota has frequently cited Berkshire Hathaway chairman Warren Buffett as a primary inspiration for his commitment to an active, lifelong work ethic.
“It doesn’t mean I will necessarily work as long as he will,” Soota told The Times of India in a 2021 interview. “I might even have different roles going forward.”
As he navigates his ninth decade, Soota’s career remains a rare blueprint of continuous innovation. Whether he is steering a multibillion-dollar IT firm or pouring capital into breakthrough neurological research, his journey serves as a powerful reminder that for true visionaries, retirement is merely a shift in focus, not an end to ambition.
