Today news
About the same in other media
Coforge to acquire 54% stake in Cigniti Technologies at Rs 1,415 per share
Reading now: 927
Coforge's board of directors have approved the acquisition of a 54% stake in Cigniti Technologies at a per share price of Rs 1,415, the company on Thursday said in its filing to the exchanges. The acquisition process is expected to be completed by Q2FY25.
Coforge has agreed to enter into a share purchase agreement with the promoters and select public shareholders of Cigniti subject to execution of definitive agreements and completion of certain identified conditions precedent, the filing said.
The acquisition of Cigniti will not only help Coforge grow into a $2 billion firm by FY27 but the ensuing synergies will help the latter improve its operating margins by 150 – 250 bps in this timeframe, the company claimed.
More to come...
(You can now subscribe to our ETMarkets WhatsApp channel)
Read more on economictimes.indiatimes.com
About this in other media
TVS Holdings to acquire majority stake in Home Credit India for ₹554 crore livemint.com /6 months ago
Tata Motors declares dividend of Rs 6 per share economictimes.indiatimes.com /6 months ago
Bank of Baroda Q4 results: Net profit rises 2.3% YoY to ₹4,886.5 crore; declares dividend of ₹7.6 per share livemint.com /6 months ago
Show more
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
