Coforge Share Price in Focus; Completes Final Cigniti Acquisition

Coforge Ltd announced it has completed the acquisition of Cigniti Technologies. The company now holds 54% of Cigniti’s expanded voting share capital after the final closing.

Acquisition Details

On 20 December 2024, Coforge completed the off-market transaction and acquired an additional approximately 59.55 lakh equity shares of Cigniti, raising its total stake to 54% of Cigniti’s expanded voting share capital.

The deal was executed at an attractive price of ₹1,415 per share, with the total value involving a cash transaction, the company said in a press release on the stock exchanges.

Strategic Acquisition Boosts Coforge’s Growth

As a part of the deal, Coforge acquired 1.49 crore equity shares of Cigniti, which has demonstrated consistent growth with a turnover of ₹814.47 crore for FY 2023-24.

Cigniti’s expertise in digital engineering complements Coforge’s offerings, providing strong synergies that are expected to bolster Coforge’s revenue streams in the long term.

The acquisition aligns with Coforge’s strategic objectives of expanding its market reach and service offerings, with both companies operating in the IT-enabled services sector.

About Cigniti Technologies

Cigniti Technologies Limited, listed on both the BSE and NSE, is a leading provider of Quality and Digital Engineering services. The company operates across several countries, including the USA, UK, Australia, Canada, Czech Republic, South Africa, and Singapore, with its delivery centre located in India.

Share Price Performance

On December 23, 2024, Coforge’s share price rose by 0.54%, reaching ₹9,421 at 10:50 AM on the NSE. Since December 16, 2024, Coforge has consistently scaled new 52-week highs, reaching fresh peaks in its share price every day, with the latest high recorded at ₹9,798.90 on December 20, 2024.

In contrast, Cigniti Technologies’ share price saw a decline of 2.20%, trading at ₹1,830.95 in the early session today.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.