Coforge Inc., a wholly owned subsidiary of Coforge has agreed to enter into a stock purchase agreement with Xceltrait Inc. and its stockholders to acquire all of the outstanding shares of capital stock of Xceltrait Inc. for aggregate purchase consideration of approximately $ 17.85 million and completion of closing conditions and closing deliveries as per the stock purchase agreement.

The transaction is expected to close by 28 February 2025.

Xceltrait Inc which is a specialist in the implementation of ServiceNow's Financial Services Operations (FSO) and Customer Service Management (CSM) modules and brings deep expertise in the P&C insurance industry. With the consummation of the proposed transaction, the group will be able to leverage the abovementioned capabilities and expand across various Coforge accounts.