HCLTech Acquires Finergic for 19M SGD to Enhance Wealth Management
Filing Summary
HCL Technologies Ltd. has announced the acquisition of Singapore-based Finergic Solutions Pte Ltd for 19 million Singapore Dollars. The acquisition, expected to close by April 30, 2026, involves a 100% cash consideration. Finergic, founded in 2019, specializes in core banking and wealth management transformation. HCLTech aims to integrate Finergic’s capabilities to enhance its service delivery in the financial services sector. The acquisition aligns with HCLTech’s strategic focus on strengthening its expertise in core banking and wealth management, complementing its existing global experience with Temenos products.
HCL Technologies Ltd. has signed a definitive agreement to acquire Finergic Solutions Pte Ltd, a Singapore-based boutique wealth consulting firm. The acquisition involves a 100% cash consideration amounting to 19 million Singapore Dollars. The transaction is anticipated to be completed by April 30, 2026. This acquisition is part of HCLTech’s strategy to enhance its digital transformation offerings for the wealth management industry.
The financial terms of the acquisition include a total purchase price of 19 million Singapore Dollars. Finergic reported a revenue of 12.6 million Singapore Dollars for the year ending December 31, 2024, with 5.1 million Singapore Dollars derived from HCL Technologies Ltd. The acquisition does not fall within related party transactions, and no governmental or regulatory approvals are required for its completion.
Finergic, founded in 2019, focuses on consulting activities related to transformation strategy, architecture, and delivery of solutions in wealth management. HCLTech plans to integrate Finergic’s specialized transformation strategy, consulting, and wealth-architecture capabilities to accelerate the delivery of platform-enabled wealth management solutions. These capabilities will complement HCLTech’s existing experience in supporting clients with Temenos products, including over 40 global banks.
The acquisition aligns with HCLTech’s strategic focus on strengthening its financial services expertise, particularly in core banking and wealth management. Finergic’s niche capabilities are expected to enhance service delivery across the financial services and wealth management industry. The company has a presence in Singapore, Luxembourg, Switzerland, and India, and has built a reputation for delivering core banking and wealth management transformation programs.
The acquisition is expected to be completed by April 30, 2026. HCL Singapore Pte Ltd, a wholly-owned subsidiary of HCLTech, will acquire 100% of the outstanding equity of Finergic. The integration of Finergic’s capabilities is anticipated to unlock synergies and enhance HCLTech’s service delivery in the financial services sector.
HCL Technologies Ltd. is a global technology company with a workforce of over 226,300 people across 60 countries. The company delivers capabilities centered around AI, digital, engineering, cloud, and software. HCLTech provides industry solutions for various sectors, including Financial Services, Manufacturing, Life Sciences and Healthcare, High Tech, Semiconductor, Telecom and Media, Retail and CPG, Mobility, and Public Services.