Coforge Limited announced the divestment of its subsidiary, Coforge Advantage Go Limited, as part of a strategic review and corporate restructuring.

• Coforge U.K. Limited, a wholly owned subsidiary, has entered into a share purchase agreement with Sapiens UK Limited to sell its entire shareholding in Coforge Advantage Go Limited.
• Sapiens will pay a base consideration of GBP 43,000,000 for the transaction.
• The transaction is expected to be completed within 4-6 weeks.
• AdvantageGo is a product provider in the Commercial and Specialty insurance space, with a strong position in the Lloyd’s Syndicate Market.
• Coforge stated that the divestment will resolve channel conflicts with strategic partners in the Property & Casualty (P&C) space and allow Coforge to sharpen its focus on its core Insurance Services business, which remains a key growth driver.
• The transaction is also expected to strengthen Coforge's go-to-market partnership with Sapiens within the insurance industry.

Sudhir Singh, CEO & Executive Director, Coforge, commented, “AdvantageGo is a stellar product business in a predominantly IT Services organization. Divestment of AdvantageGo would resolve the channel conflict with some of our strategic partners in the P&C space and enable us to stay focused on driving very strong growth in the Coforge Insurance Services business. As a global leader in Insurance SaaS-based software, Sapiens is a great strategic fit for the AdvantageGo business. This transaction will also strengthen our go-to-market partnership with Sapiens and help further accelerate the growth of both organizations within the Insurance industry.”