Coforge has signed definitive agreements to acquire a controlling interest in SLK Global Solutions (SLK Global), a business process transformation enterprise offering BPM and digital solutions for the financial services industry.
Coforge shall initially acquire 60% stake in SLK Global, with SLK Global’s founders completely exiting. Fifth Third Bank’s stake in the company will be reduced to 40% and shall continue at that level for the next 2 years. Coforge will acquire an additional 20% stake from Fifth Third Bank after the completion of 2 years. As part of the transaction, Fifth Third Bank has committed to remaining a significant customer of SLK Global and has also committed a base volume over 5 years starting FY’22.
Coforge was earlier known as NIIT Technologies.
