HCLTech to acquire Singapore-based Finergic for $19 million to boost wealth management.
HCLTech will acquire Singapore-based Finergic Solutions for $19 million (approx. ₹148 crore) by April 30, 2026. Finergic specializes in wealth management transformation. This move aims to boost HCLTech's digital transformation offerings in the financial services sector. Finergic reported revenue of S$12.6 million in FY24.
The acquisition of a niche firm like Finergic is strategically significant for HCLTech's financial services vertical, enhancing its capabilities. However, the financial size of the deal (19 million Singapore Dollars) suggests a medium-term impact rather than a significant immediate financial shock.
The acquisition of Finergic is a strategic move expected to enhance HCLTech's capabilities and service delivery in the wealth management sector, indicating a positive development for the company's growth and market position.
HCL Technologies (HCLTech) has announced its definitive agreement to acquire Finergic Solutions Pte Ltd, a Singapore-based wealth consulting firm founded in 2019. This strategic acquisition aims to strengthen HCLTech's digital transformation offerings within the wealth management industry.
The transaction, valued at 19 million Singapore Dollars (approximately ₹148 crore), is expected to close by April 30, 2026. Finergic specializes in core banking and wealth management transformation, possessing a strong global presence and niche capabilities.
With Finergic's expertise in transformation strategy, consulting, and wealth architecture, HCLTech anticipates enhanced delivery of next-generation, platform-enabled wealth management solutions, particularly those leveraging AI-native workflows. This integration will complement HCLTech's existing experience with Temenos products, serving over 40 global banks.
Srinivasan Seshadri, Chief Growth Officer at HCLTech, stated that the acquisition strategically positions the company to enhance its digital services in wealth management, enabling greater business outcomes for clients. The co-founders of Finergic expressed enthusiasm about joining HCLTech's growth journey, highlighting their shared vision for financial services transformation.
Finergic reported revenues of 12.6 million Singapore Dollars for the year ended December 31, 2024, with a Profit After Tax (PAT) of 2.9 million Singapore Dollars and a net worth of 5.4 million Singapore Dollars. The company has a presence in Singapore, Luxembourg, Switzerland, and India.
HCLTech's consolidated revenues for the 12 months ending December 2025 totaled $14.5 billion (approximately ₹120,500 crore).
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