Coforge Successfully Closes Cigniti Acquisition

NOIDA, India and PRINCETON, N.J. — Thursday, April 30, 2026 – Coforge, an AI-native engineering services leader, has officially announced the successful closure of its acquisition of Cigniti Technologies. The closure was achieved following
overwhelming shareholder approval and final clearance from the National Company Law Tribunal (NCLT), marking the completion of all regulatory requirements including CCI and SEBI mandates. This milestone comes at a defining moment for Coforge as it has established itself as a scaled AI-led Engineering, Data and Cloud services leader with a $2 Bn core comprised only of AI-led Engineering, Data and Cloud services.

Coforge acquired Cigniti to gain access to its tenured relationships, expand its Healthcare business, and grow its presence in the Midwest and Western regions of the US. The results are now reflected in the data.

“The Cigniti acquisition is a textbook example of a firm making a contrarian bet that has worked out and yielded exceptional results. The fact that the EBITDA margin of the acquired business has expanded from 11% to 19% in just six quarters, and that the top two acquired clients, which had a cumulative revenue of $25 million per annum, are now running at $75 million per annum, is reflective of both the value creation and the execution intensity that helped drive that value creation.

Our successful integration of Cigniti has unlocked immense value and serves as the strategic blueprint for our next phase. By applying that same disciplined playbook to Encora, we are making a bold bet on AI-native engineering to accelerate our global growth." said Sudhir Singh, Chief Executive Officer and Executive Director, Coforge

Revenue Growth and Account Expansion

• Cross-selling and large-deal momentum have driven significant account expansion. The business, which had never signed a large deal in its entire 25-year history, signed its first large deal (SW - $24 million) within six months of Coforge acquiring Cigniti. The second large deal was signed in nine months of acquisition (NT - $62 million). This was a result of execution intensity across sales, pre-sales, and delivery.
• Pre-acquisition, Cigniti’s top two accounts had annual revenues of approximately $15 million and $10 million. Post-acquisition, these accounts have scaled to approximately $45 million and $30 million, respectively, reflecting a significant increase in client scale and deal size.

Margin Expansion:

• The business’s EBITDA margins expanded from approximately 11% pre-acquisition to approximately 19% over the period of five quarters, reflecting operational and G&A synergies.
• Reported PAT has increased to 14%-15% levels, which is one of the best-in-class among the peer set.

This is all underpinned by disciplined execution, cross sell expansion, and outcome led delivery.

The new US$2.5Bn firm, with a US$2Bn enterprise core of AI-led Engineering, Data and Cloud services, will set the benchmark for making the promise of AI real for enterprises. In turn, this AI-infused core led growth, is likely to move Coforge’s already exceptional growth numbers to the next orbit.

About Coforge:

Coforge is an AI-native engineering services leader, where AI is the very foundation of how we design, build, and deliver intelligent solutions for our clients. We use AI and hyperspecialized industry expertise to engineer autonomous enterprises. We combine AI agents with our AI-enabled workforce, including specialized FDEs in hybrid pod-based delivery units. With a deep focus on trusted AI, our solutions are secure, governed, and enterprise-grade. We are outcome-led by design. Moving beyond AI experimentation, we deliver measurable business outcomes – lower operating costs, faster cycle times, higher conversion rates, and sustained margin growth.