The shares of Coforge Limited were trading at ₹7,856.10 up by ₹643.70 or 8.92 per cent on the NSE today at 10.50 am.
Coforge Limited has announced two strategic acquisitions to enhance its technology service offerings, targeting growth in data practices, cloud engineering, and ServiceNow ecosystem services.
The company will acquire 100 per cent stakes in two companies: Rythmos Inc. in the United States and TMLabs Pty Ltd in Australia. The Rythmos transaction involves an initial upfront cash payment of $30 million, with potential additional earnouts of up to $18.7 million based on future performance targets for 2025 and 2026.
The TMLabs acquisition, priced at AUD 20 million upfront, focuses on expanding Coforge’s ServiceNow implementation capabilities, particularly in integrated risk management, healthcare, and HR service delivery. The transaction has already received Foreign Investment Review Board (FIRB) approval from the Australian government.
Both acquisitions are expected to close by March 31, 2025, and align with Coforge’s strategic objectives of expanding its industry-specific technology services and geographical presence. Rythmos brings strong data capabilities and airline industry expertise, while TMLabs provides specialized ServiceNow implementation services.
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