JSA represented Coforge in its acquisition of 100% stake of TMLabs for an initial approximate consideration of ~₹110 crores subject to adjustments and completion of closing conditions.

JSA assisted Coforge on all aspects of the transaction, including structuring, negotiating, and finalising the definitive documents.

The transaction team consisted of Anand Lakra (Lead Partner), Kanishka Bajpai (Partner), Ami Shah (Senior Associate), Jinay Shah (Senior Associate) and Rishabh Sharma (Associate).

An additional earnout amount will be payable to the sellers based on the achievement/performance of certain revenue and EBITDA targets.

This strategic move aims to enhance Coforge's capabilities in the cloud-based ServiceNow ecosystem, particularly in modules like integrated risk management, healthcare, and HR service delivery. TMLabs operates at the intersection of these focus areas, making it a valuable addition to Coforge's portfolio.

The acquisition is expected to be completed by March 31, 2025, subject to customary closing conditions.

Coforge Limited is a global digital services and solutions provider specializing in emerging technologies such as cloud computing, artificial intelligence, data analytics, and automation. Headquartered in India, the company primarily serves industries like banking and financial services, insurance, healthcare, travel, and government sectors.

TMLabs Pty Ltd is an Australian cloud software consultancy firm that specializes in ServiceNow platform implementation and related cloud-based enterprise solutions. The company focuses on helping organizations optimize and streamline their IT operations, risk management, human resources, and healthcare service delivery using ServiceNow’s suite of tools. TMLabs has established itself as a key player in the digital transformation space, particularly in Australia and the Asia-Pacific region

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