Coforge completes acquisition of Xceltrait Inc.

Coforge announced today the completion of its acquisition of Xceltrait Inc., effective February 20, 2025. The acquisition was executed through Coforge Inc., a wholly owned subsidiary, and involves the purchase of all outstanding shares of Xceltrait. The total transaction is valued at approximately $17.85 million, including an initial payout of $5.54 million and potential earnout payments of up to $10.85 million tied to revenue and EBITDA targets for fiscal years 2026 and 2027. Xceltrait, incorporated in the USA, specializes in ServiceNow's Financial Services Operations (FSO) and Customer Service Management (CSM) modules, with a strong presence in the P&C insurance sector. Coforge anticipates leveraging Xceltrait's expertise to expand its services across various accounts. Xceltrait's turnover for calendar year 2023 was $5.82 million with a loss after tax of $0.15 million. The acquisition is not a related party transaction.