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Coforge to acquire 60 pc stake in SLK Global for Rs 918 crore ANI | Updated: Apr 13, 2021 12:18 IST
Noida (Uttar Pradesh) [India], April 13 (ANI): IT solutions major Coforge has signed definitive agreements to acquire 60 per cent stake in SLK Global Solutions for Rs 918 crore.
With this, SLK Global s founder Fifth Third Bank will be reduced to 40 per cent. Coforge said it will acquire another 20 per cent from Fifth Third Bank after two years.
The transaction is being funded by Coforge with a combination of internal accruals and external borrowings.
SLK Global is a business process transformation firm offering digital solutions for financial services industry. It has deep domain expertise in the banking and insurance segments in North America.
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Coforge to acquire 60% of SLK Global Solutions for Rs 918 crore
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Last Updated: Apr 12, 2021, 08:23 PM IST
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Synopsis
Coforge has acquired 60% of SLK Global Solutions for Rs 918.32 crore, with a provision to acquire another 20% from Fifth Third Bank after two years.
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Coforge expects the SLK Global Solutions acquisition to help it expand services to the North American financial services industry and strengthen its BPM operations.
Pune:
Coforge Ltd. has agreed to acquire 60% stake in SLK Global Solutions for Rs 918.32 crore, in a deal that the IT firm expects will help it expand services to the North American financial services industry and strengthen its business process management (BPM) operations.