Coforge Limited Completes Cigniti Technologies Acquisition

Coforge Limited has officially announced the successful closure of its acquisition of Cigniti Technologies. This milestone was achieved following overwhelming shareholder approval and final clearance from the National Company Law Tribunal (NCLT), completing all regulatory requirements. The appointed date for the amalgamation scheme is April 01, 2025.

The acquisition aims to enhance Coforge's AI-led Engineering, Data, and Cloud services, creating a larger entity with a $2 billion core in these areas. Coforge acquired Cigniti to leverage its established client relationships, expand its Healthcare business, and increase its presence in the US Midwest and Western regions.

During the integration process, Cigniti's EBITDA margins reportedly expanded from 11% to 19% within six quarters. Key clients, which previously generated $25 million in annual revenue, are now contributing $75 million. The business has also seen success in cross-selling and large-deal momentum, signing its first large deal of $24 million within six months post-acquisition, followed by another $62 million deal. Pre-acquisition, Cigniti's top two accounts had revenues of approximately $15 million and $10 million, which have since scaled to $45 million and $30 million, respectively.

The National Company Law Tribunal, Chandigarh Bench, pronounced its order approving the Scheme of Amalgamation on April 29, 2026. The amalgamation process involved multiple regulatory approvals and shareholder meetings, with all classes of stakeholders approving the scheme. The Income Tax Department had raised objections regarding outstanding tax demands against both companies, but Coforge committed to taking over and discharging all tax liabilities of Cigniti Technologies, and to comply with all income tax provisions.