HCLTech buys Finergic for $19m cash to boost wealth consulting

HCLTech will buy 100% via HCL Singapore; Finergic’s 2024 net worth was $5.4m, it said.

HCL Technologies has agreed to acquire Singapore-based Finergic Solutions for $19m in cash, strengthening its wealth management and core banking consulting capabilities.

The transaction, which is expected to be completed by April 30, will see HCLTech acquire 100% of Finergic’s equity through its wholly owned subsidiary, HCL Singapore. The acquisition does not require any regulatory approvals, the company said.

Finergic, founded in 2019, provides consulting services focused on transformation strategy, architecture, and delivery of wealth management solutions.

The firm reported revenue of $12.6m for the year ended 31 Dec. 2024, more than doubling from $6.2m in 2023, according to the disclosure. Profit after tax stood at $2.9m, with a net worth of $5.4m.

HCLTech said the acquisition aligns with its strategy to expand its financial services offerings, particularly in core banking and wealth management.

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