SINGAPORE & NOIDA, India – HCLTech signed a definitive agreement to acquire Finergic Solutions for 19 million Singapore dollars in an all-cash transaction, bolstering the IT services company’s financial services expertise as wealth management institutions accelerate digital transformation initiatives.
The deal, valued at approximately $14.8 million USD, targets Finergic’s specialized capabilities in core banking and wealth management transformation. The transaction is expected to close by April 30, 2026, subject to customary conditions. HCLTech, India’s third-largest IT services firm, will integrate Finergic’s boutique consulting practice into its financial services division.
Founded in 2019 and headquartered in Singapore, Finergic focuses exclusively on wealth management transformation programs with established global presence. The company reported revenue of 12.6 million Singapore dollars for fiscal year 2024, with 5.1 million derived from HCLTech as an existing client relationship, demonstrating operational integration prior to the acquisition announcement.
Finergic demonstrated consistent growth trajectory, increasing revenues from 5.8 million Singapore dollars in 2022 to 6.2 million in 2023 before more than doubling to 12.6 million in 2024. The acquisition provides HCLTech with specialized transformation strategy, consulting, and wealth architecture capabilities that complement the acquirer’s scale and financial services industry experience.
Srinivasan Seshadri, Chief Growth Officer and Global Head of Financial Services at HCLTech, emphasized strategic positioning to strengthen digital services capabilities in wealth management. The transaction enables delivery of advanced capabilities, innovation acceleration, and substantial synergies empowering clients to realize greater business outcomes across the financial services landscape.
HCLTech brings over 25 years of global experience serving leading financial institutions, supporting more than 40 global banks with Temenos platform implementations. The addition of Finergic’s niche expertise aims to accelerate delivery of next-generation platform-enabled wealth management solutions anchored by advanced AI-native workflows.
Finergic co-founders Ganesh Swaminathan, Saravanan Kandaswamy, and Senthil Kumar Sekar expressed enthusiasm about joining HCLTech’s growth trajectory. The founders highlighted shared vision for financial services industry transformation and complementary strengths positioning the combined organization to deliver greater value to enterprise clients.
The acquisition does not constitute a related party transaction, with no promoter, promoter group, or group companies holding interest in the entity being acquired. The deal requires no governmental or regulatory approvals, facilitating streamlined completion within the projected timeline.
For HCLTech, the transaction represents continued strategic focus on financial services sector consolidation, particularly around specialized consulting capabilities that enhance the company’s ability to compete for complex digital transformation projects at wealth management institutions modernizing technology platforms and operational processes.
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