Coforge Ltd to Acquire Xceltrait Inc. for $17.85 Million, Expanding Its IT/ITes Capabilities in P&C Insurance

Coforge Ltd, through its wholly owned subsidiary Coforge Inc., has agreed to enter into a Stock Purchase Agreement with Xceltrait Inc. and its stockholders to acquire all of the outstanding shares of Xceltrait Inc. The Proposed Transaction is expected to be completed by February 28, 2025, subject to the terms and conditions set out in the Stock Purchase Agreement. The total consideration is approximately $17.85 million, with an initial payout of $7 million and an earnout amount not exceeding $10.85 million based on the achievement of certain revenue and EBITDA targets of FY 26 & FY 27. Xceltrait Inc., a specialist in the implementation of ServiceNow’s Financial Services Operations (FSO) and Customer Service Management (CSM) modules, brings deep expertise in the P&C insurance industry, and is expected to enhance Coforge's capability and expand across various Coforge accounts.