HCLTech has announced the acquisition of Singapore-based Finergic Solutions Pte Ltd to bolster its digital transformation offerings for the wealth management industry. The transaction is expected to close by April 30, 2026. This acquisition will strengthen HCLTech’s capabilities in core banking and wealth management, enhancing service delivery with advanced AI-native workflows and specialized transformation strategies. Finergic reported revenue of 12.6 million Singapore Dollars for the year ended December 31, 2024.
Acquisition of Finergic Solutions
HCLTech is set to acquire Finergic Solutions Pte Ltd, a Singapore-based boutique wealth consulting firm. This acquisition aims to boost HCLTech’s digital transformation capabilities, particularly in the wealth management sector. The deal is projected to close by April 30, 2026.
Strategic Rationale
The acquisition of Finergic will allow HCLTech to integrate specialized transformation strategies and consulting with its existing wealth-architecture capabilities. This integration is expected to accelerate the delivery of next-generation, platform-enabled wealth management solutions using advanced AI. HCLTech aims to strengthen its digital services capabilities in wealth management through Finergic’s focused domain expertise.
Financial Details and Performance
Finergic reported a revenue of 12.6 million Singapore Dollars for the year ending December 31, 2024, with approximately 5.1 million Singapore Dollars attributed to revenue from HCL Technologies Limited (“HCLTech”). The total purchase price for the acquisition is 19 million Singapore Dollars, which will result in HCLTech acquiring 100% of Finergic’s outstanding equity. Finergic also reported a PAT of 2.9 million Singapore Dollars and a Net Worth of 5.4 million Singapore Dollars as per fiscal year ended December 2024.
Finergic’s Core Business
Finergic focuses on core banking and wealth management transformation. The company’s consulting activities are centered on transformation strategy, architecture, and the delivery of future-proof solutions in wealth management. Established in 2019, Finergic has a presence in Singapore, Luxembourg, Switzerland, and India.
Source: BSE
