HCL Technologies, a leading global technology company, has announced the acquisition of Finergic Solutions, a Singapore-based company that specializes in digital banking and financial services solutions. The acquisition was made for a sum of 19 million Singapore dollars, which is approximately 13.8 million US dollars.
Fineric Solutions is a niche player in the digital banking space, providing a range of services including digital transformation, core banking implementation, and payment solutions to banks and financial institutions in the Asia-Pacific region. The company has a strong presence in Singapore, Malaysia, and Indonesia, and has worked with several major banks in these countries.
The acquisition of Finergic Solutions is a strategic move by HCL Technologies to strengthen its presence in the digital banking space and expand its offerings in the Asia-Pacific region. HCL Technologies has a significant presence in the region, with operations in several countries including Singapore, Malaysia, and the Philippines. The acquisition will enable HCL to leverage Finergic’s expertise and experience in digital banking to offer a more comprehensive range of services to its clients.
The acquisition is also expected to enhance HCL’s capabilities in the areas of digital transformation, core banking implementation, and payment solutions. Finergic’s team of experts will join HCL, bringing with them their expertise and experience in the digital banking space. This will enable HCL to offer more specialized services to its clients, including digital transformation, core banking implementation, and payment solutions.
The acquisition is a part of HCL’s strategy to expand its presence in the digital banking space and to offer a more comprehensive range of services to its clients. The company has been investing heavily in digital technologies, including cloud, artificial intelligence, and blockchain, and has been expanding its presence in the Asia-Pacific region through a series of acquisitions and partnerships.
The acquisition of Finergic Solutions is expected to be completed in the next few weeks, subject to regulatory approvals. The financial details of the acquisition were not disclosed, but it is expected to be earnings accretive for HCL Technologies. The acquisition is a significant move by HCL to strengthen its presence in the digital banking space and to expand its offerings in the Asia-Pacific region. It is expected to enhance HCL’s capabilities in digital transformation, core banking implementation, and payment solutions, and to enable the company to offer more specialized services to its clients.