Coforge To Sell UK Insurance Tech Unit To Sapiens For ₹4.9 Billion

Coforge Ltd. on Monday said its wholly-owned arm, Coforge UK Ltd., will sell its entire stake in Coforge Advantage Go Ltd. to Sapiens UK Ltd. for £43 million (around ₹4.91 billion).

The share purchase agreement was signed on Monday and the deal is expected to close within four to six weeks, the company said in an exchange filing.

Sapiens is a global software provider for the insurance sector, offering end-to-end solutions for the property and casualty, life, pension, and annuity markets, Coforge said.

Coforge Advantage Go currently contributes 1.7% to Coforge's consolidated income and 2.7% to its net worth.