Coforge Expands Global Footprint: Acquires Artexmind S.A. for $10,000
By ScanX News Team
Coforge Limited is acquiring Artexmind S.A., a newly incorporated IT/ITes company, for $10,000 to expand into a new geographic market. The acquisition, expected to complete by August 31, 2025, involves purchasing 40,000 shares. Coforge also reported impressive Q1 FY26 results with revenue of ₹36,886 million, up 56.50% year-on-year, and PAT of ₹3,174 million, up 138.40%. The company secured $507 million in new orders and declared an interim dividend of ₹4 per share. Coforge is changing its Registrar and Share Transfer Agent to MUFG Intime India Private Limited, effective November 15, 2025.
*this image is generated using AI for illustrative purposes only.
Coforge Limited , a leading global IT solutions organization, has announced a strategic move to expand its international presence through the acquisition of Artexmind S.A., a newly incorporated IT/ITes company. The acquisition, valued at $10,000, is set to be executed through Coforge's subsidiary, Coforge Solutions Private Limited.
Acquisition Details
The deal involves the purchase of 40,000 shares, representing the entire share capital of Artexmind S.A. This shelf company, incorporated on July 16, 2025, has not yet commenced operations. Coforge's decision to acquire Artexmind S.A. is primarily aimed at facilitating expansion into a new geographic market, as establishing a new entity would require a longer lead time.
Transaction Timeline and Structure
The transaction is expected to be completed by August 31, 2025, with the consideration to be paid in cash. Notably, the acquisition does not require any government or regulatory approvals, potentially streamlining the process.
Strategic Implications
This move aligns with Coforge's global expansion strategy, allowing the company to swiftly establish a presence in a new market. By acquiring a shelf company, Coforge can potentially bypass some of the time-consuming processes typically associated with setting up operations in a new geography.
Financial Performance
Alongside this acquisition announcement, Coforge has released its financial results for the first quarter of the fiscal year 2026. The company reported:
| Financial Metric | Value | Year-on-Year Growth |
|---|---|---|
| Revenue | ₹36,886 million ($442.40 million) | 56.50% (INR), 54.50% (USD) |
| EBITDA Margin | 17.50% | 61 bps (QoQ) |
| Profit After Tax (PAT) | ₹3,174 million | 138.40% |
Order Book and Client Acquisition
Coforge demonstrated strong business momentum in Q1 FY26:
- Fresh order intake of $507 million, including five large deals.
- Executable order book over the next 12 months stood at $1.55 billion, showing a 46.90% year-on-year growth.
- Addition of 6 new logos during the quarter.
Dividend Declaration
The Board of Directors has declared an interim dividend of ₹4 per equity share (face value ₹2 each) for the financial year 2025-26. The record date for determining shareholder eligibility is set for July 31, 2025.
Change in Registrar and Share Transfer Agent
In a move to enhance operational efficiency and shareholder experience, Coforge has appointed M/s. MUFG Intime India Private Limited as its new Registrar and Share Transfer Agent, effective November 15, 2025, replacing Alankit Assignments Limited.
As Coforge continues to expand its global footprint and deliver strong financial performance, the acquisition of Artexmind S.A. marks another step in the company's growth strategy, potentially opening new avenues for business development and market penetration.
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