M&A
IT services co. Coforge acquires Rythmos, TMLabs
Publicly listed, Noida-headquartered IT Services firm Coforge (formerly NIIT Technologies) has acquired 100% stake in Sydney-headquartered TMLabs Pty Ltd for an initial upfront purchase consideration of AUD 20 million. It will make an additional payout based on the achievement or performance of certain revenue and EBITDA targets for FY26 and FY27.Coforge has also acquired 100% stake in Hyderabad-based IT services company Rythmos , for USD 30 million upfront and an additional payout in two tranches, subject to achievement of certain milestones.
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