Image Source: The Economic Times
Coforge Ltd has filed its second motion petition with the National Company Law Tribunal (NCLT) seeking approval for the proposed amalgamation scheme with Cigniti Technologies. The move follows unanimous creditor approval and earlier “no objection” letters from stock exchanges, marking a crucial step in the consolidation process.
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The merger is expected to strengthen Coforge’s digital assurance and engineering portfolio by integrating Cigniti’s expertise in AI-led quality engineering. Analysts believe the combined entity will be better positioned to compete globally in IT services, offering diversified solutions across assurance, automation, and digital transformation. The NCLT’s approval will be the final regulatory milestone before the scheme takes effect.
Notable updates
• Coforge files second motion petition with NCLT for amalgamation approval
• Secured and unsecured creditors unanimously back the merger scheme
• Stock exchanges earlier issued “no adverse observations” and “no objections”
• Integration to enhance Coforge’s digital assurance and AI-led engineering capabilities
• Merger expected to strengthen global competitiveness in IT services
Major takeaway
The Coforge–Cigniti amalgamation represents a strategic consolidation in India’s IT services sector, combining complementary strengths to drive growth in assurance and digital engineering.
Sources: Reuters, Economic Times, Business Standard
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