Cigniti Technologies Limited — JV/Acquisition, 28-12-2024: Amalgamation/Merger

Cigniti Technologies Limited has approved a scheme of amalgamation with Coforge Limited, where shareholders of Cigniti will receive 1 equity share of Coforge for every 5 shares of Cigniti held. Coforge currently holds 54% of Cigniti's shares. This amalgamation aims to enhance digital transformation capabilities, accelerate growth across sectors, and improve operational efficiencies. The combined entity will target expanded presence particularly in the US market, leveraging synergies and a broader service portfolio. The transaction is expected to streamline operations and unlock significant value for shareholders, with no cash consideration involved.