Merger1 May 2026, 07:31 am
Coforge closes Cigniti acquisition; NCLT sanctions merger
AI Summary
Coforge announced the successful closure of its acquisition of Cigniti Technologies, following the Hon'ble NCLT's sanction of the Scheme of Amalgamation. This milestone, with an Appointed Date of April 1, 2025, completes all regulatory requirements. The acquisition has significantly expanded Coforge's Healthcare business and US presence. Post-acquisition, Cigniti's EBITDA margin improved from 11% to 19% in six quarters, and its top two client revenues tripled from $25 million to $75 million annually. Coforge is now positioned as a $2.5 billion firm with a $2 billion core in AI-led Engineering, Data, and Cloud services, aiming for accelerated global growth.
Key Highlights
- NCLT sanctioned Coforge's Scheme of Amalgamation with Cigniti Technologies.
- Coforge successfully closed the Cigniti acquisition after regulatory approvals.
- Acquired business EBITDA margin expanded from 11% to 19% in six quarters.
- Top two acquired clients' revenue grew from $25 million to $75 million annually.
- Coforge is now a $2.5 Bn firm, strengthening AI-led engineering services.