HCLTech to acquire Singapore-based Finergic for $19 million to boost wealth management offerings.
HCLTech will acquire Singapore-based Finergic Solutions for $19 million cash to enhance its wealth management digital transformation services. The deal, expected to close by April 30, 2026, will integrate Finergic's niche capabilities. Finergic reported $12.6 million revenue and $2.9 million PAT in FY24.
The acquisition of a specialized firm like Finergic, while strategically sound, is of a moderate financial size relative to HCLTech's overall operations, suggesting a medium-term impact.
The acquisition is expected to strengthen HCLTech's capabilities in a key growth area (wealth management) and enhance its service offerings, indicating a positive strategic move.
HCL Technologies (HCLTech) has announced its definitive agreement to acquire Finergic Solutions Pte Ltd, a Singapore-based boutique wealth consulting firm, for a total purchase price of $19 million in cash.
Founded in 2019, Finergic specializes in core banking and wealth management transformation, with a strong global presence. This acquisition is expected to enhance HCLTech's digital transformation offerings for the wealth management industry by integrating Finergic's niche capabilities and consulting expertise, particularly in AI-native workflows and Temenos products.
The transaction is anticipated to close by April 30, 2026. Srinivasan Seshadri, Chief Growth Officer at HCLTech, stated that the acquisition strategically positions HCLTech to strengthen its digital services in wealth management, enabling the delivery of advanced capabilities and fostering innovation.
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 for the year ended December 31, 2024, with a Profit After Tax (PAT) of $2.9 million and a net worth of $5.4 million. The company has a presence in Singapore, Luxembourg, Switzerland, and India.
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