Coforge Ltd.

Coforge through its wholly owned subsidiary Coforge Inc. is all set to acquire all of the outstanding shares of capital stock of Rythmos Inc. In this regard, the company has agreed to enter into a stock purchase agreement with Rythmos Inc. and its stockholders. The transaction is expected to be completed by March 31, 2025. The company is focusing on enhancing its data practice and cloud engineering capabilities and Rythmos will help in adding data capabilities along with strong industry knowledge in the airlines industry.

Coforge Inc. will acquire 100% stake of Rythmos Inc., with an initial upfront purchase consideration of $30.0 million subject to further adjustments and completion of certain conditions precedent, in accordance with the Stock Purchase Agreement. An additional earnout amount will be payable to the stockholders of Rythmos Inc. in two tranches based on the achievement/performance of certain revenue and EBITDA targets for CY 25 & CY 26, subject to maximum payout of $18.7 million.

Coforge (Formerly known as NIIT Technologies) is a leading global IT solutions organization, enabling its clients to transform at intersect of unparalleled domain expertise and emerging technologies to achieve real-world business impact.