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Coforge acquires Rythmos, TMLabs in expansion push
Mint Chennai
|March 06, 2025
Software services company Coforge Ltd said Wednesday it has signed deals to acquire two technology services providers in the US and Australia.
The company will acquire US-based Rythmos Inc., which has offices in Hyderabad and Coimbatore, in an all-cash deal totaling a maximum of $48.7 million (₹424 crore), Mumbai-listed Coforge said in a stock-exchange filing.
The acquisition of Rythmos will entail an initial upfront payment of $30 million, subject to certain terms. Coforge will also pay an earn-out amount to shareholders of Rythmos in two tranches, based on the achievement of certain revenue and Ebitda targets for 2025 and 2026. The maximum additional payout will be $18.7 million.
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