| Coforge Ltd. | |
| Former Name: | NIIT Technologies |
| Type: | Public |
| Location: | Noida, Uttar Pradesh, India |
| Industry: | Information technology |
| Area Served: | Worldwide |
| Key People: | Sudhir Singh (CEO)[1] |
| Services: |
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| Revenue: | (FY24) |
| Operating Income: | (FY24) |
| Net Income: | (FY24)[2] |
| Num Employees: | 24,607 (December 2023)[3] |
Coforge, formerly known as NIIT Technologies, is an Indian multinational information technology company based in Noida, India and New Jersey, United States. The company's stock trades on the Bombay Stock Exchange and on the National Stock Exchange of India under the ticker symbol COFORGE.[4] [5] [6]
The company was incorporated in 1992 as NIIT Technologies Ltd, the software services division of NIIT.[6] [7]
In 2006, the company acquired UK Insurance Solutions Company. In the same year company partnered with Adecco SA.[8] In 2008, the company signed a multi million pounds deal with British Airways.[9]
In 2012, the company implemented "Intranet Prahari" project for Border Security Force approved by Government of India.[10] In the same year, Indian Tobacco Board awarded a contract to the company for the implementation of e-auction system in Karnataka and Andhra Pradesh.[11]
In September 2012, the company launched Crew Wings, an application for Airline Cabin Crew Members.[12] In the same year, the company acquired Sabre Holdings' Philippines Development Center.[13]
In 2018, the Company acquired controlling interest in RuleTek, a US-based BPM architecture services company. After the acquisition, Coforge's digital arm Incessant Technologies control 55% of Ruletek.[14]
In April 2019, Baring Private Equity Asia acquired a 30.6% stake in NIIT Technologies from the promoter group for 2,627 crore.[15] In July 2019, Baring increased its shareholding by 35% via an open offer to public shareholders for 3,045 crore.[16]
In 2020, NIIT Technologies was re-branded as Coforge.[1] [17]
In April 2021, Coforge acquired 60% stake in SLK Global Solutions for 918 crore. After this acquisition, the company's employee count rose to 21,000 having inherited SLK's employee strength of 10,000.[18]
By August 2023, Baring Private Equity Asia divested its entire 70% stake in Coforge, selling it across multiple tranches beginning in October 2020.[19] [20]
In December 2023, the company received an income tax demand notice of 122 crore consisting of a tax demand of 97.97 crore and an interest liability of 23.79 crore as declared in a regulatory filing.[21] [22]
In May 2024, Coforge announced that it would acquire a 54% stake in Cigniti Technologies.[23]
Coforge collaborated with NIIT Foundation and launched a CSR initiative "Shiksha." Coforge has four operational centers training over 5,000 underprivileged youth in IT skills and employability. Coforge also sponsored the restoration of Neknampur Lake, a 98 acres lake in Telangana.[24] In February 2024, Coforge inaugurated a free public library in Noida.[25]