Coforge
Limited (NSE: COFORGE), a global digital services and solutions
provider, as part of a recent strategic review and corporate restructuring
announced the divestment of Coforge Advantage Go Limited. Coforge U.K.
Limited, a wholly owned subsidiary of the company has agreed to enter into a
share purchase agreement with Sapiens UK Limited for sale and transfer of
entirety of shareholding held by it in Coforge Advantage Go Limited, subject to
completion obligations. Sapiens will pay a base consideration of GBP 43,000,000
for the transaction which is expected to be completed in 4-6 weeks.
AdvantageGo
is a leading product provider in Commercial and Specialty space with a dominant
market position in Lloyd’s Syndicate Market. AdvantageGo has been in business
for 30+ years and has served several marquee insurers over the years.
With over
two decades of experience and more than 6,000 insurance experts, we are the
trusted partner for leading global insurers in life and annuities and property
and casualty space. Insurance Services will continue to be a core
vertical focus and growth driver for Coforge, and we look forward to servicing
global insurance clients and leveraging deep domain expertise, technology
expertise and partnership eco system. This transaction will enable Coforge to
sharpen its focus on the Insurance Services business.
Sudhir
Singh, CEO & Executive Director, Coforge said, “AdvantageGo is a stellar
product business in a predominantly IT Services organization. Divestment of
AdvantageGo would resolve the channel conflict with some of our strategic
partners in the P&C space and enable us to stay focused on driving very
strong growth in the Coforge Insurance Services business. As a global
leader in Insurance SaaS-based software, Sapiens is a great strategic fit for
the AdvantageGo business. This transaction will also strengthen our
go-to-market partnership with Sapiens and help further accelerate the growth of
both organizations within the Insurance industry.”
Ian
Summers, Global Business Leader of AdvantageGo, said: “I am immensely thankful
for the opportunity to build AdvantageGo business under Coforge ownership.
Joining Sapiens means becoming part of a leading global product organization
that will amplify our capabilities and enhance our solutions, creating greater
opportunities for our clients and team,” said. “We look forward to integrating
our products into the Sapiens Insurance Platform to deliver a seamless and
powerful offering for the European and North American markets. We are committed
to ensuring a smooth transition and continued service excellence for all our
customers.”
Greater Noida, India, April 30, 2025
