New Delhi: HCL Technologies on Friday said it has signed a definitive agreement to acquire Singapore-based Finergic Solutions Pte Ltd for $19 million (about S$19 million) in an all-cash transaction, as the IT major sharpens its focus on digital transformation in the wealth management and core banking space.
The transaction, announced through regulatory filings to stock exchanges, is expected to be completed by April 30, 2026, and will see HCL Singapore Pte Ltd, a wholly owned subsidiary of HCLTech, acquire 100% equity stake in Finergic.
Founded in 2019, Finergic is a boutique consulting firm specialising in core banking and wealth management transformation, with operations across Singapore, Luxembourg, Switzerland and India. The company reported revenues of S$12.6 million in 2024, with a profit after tax of S$2.9 million and net worth of S$5.4 million.
HCLTech said the acquisition aligns with its strategy to strengthen its financial services portfolio, particularly in platform-enabled wealth management solutions anchored by AI-native workflows. The deal will also enhance HCLTech’s capabilities around Temenos-led implementations, where it already serves more than 40 global banks.
“With Finergic’s focused domain expertise, HCLTech is strategically positioned to strengthen its digital services capabilities in wealth management,” said Srinivasan Seshadri, Chief Growth Officer and Global Head – Financial Services at HCLTech.
Finergic’s co-founders said the integration with HCLTech would allow the firm to scale its consulting and architecture-led transformation offerings while opening up new opportunities for clients and employees.
HCLTech clarified that the acquisition does not involve any related party transaction and does not require regulatory approvals. The company reported consolidated revenues of $14.5 billion for the 12 months ended December 2025.