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Coforge Inc., a wholly owned subsidiary of Coforge Limited, has successfully completed the acquisition of Xceltrait Inc. This deal involved purchasing 100% of Xceltrait's shares, with an overall consideration of approximately $17.85 million, comprising an initial payment of $5.54 million and potential earnouts not exceeding $10.85 million based on future performance metrics for FY26 and FY27.
Xceltrait Inc., a specialist in ServiceNow's Financial Services Operations and Customer Service Management modules, reported a turnover of $5.82 million and a loss after tax of $0.15 million for the calendar year 2023. This acquisition enhances Coforge's capabilities in the P&C insurance sector, allowing for expanded service offerings across existing accounts. With no regulatory approvals required for this transaction, the acquisition is positioned to strengthen Coforge's market presence and foster growth opportunities moving forward.