Coforge to acquire a 60% stake in SLK Global from Fifth Third Bank.

Coforge, a provider of a variety of information technology, or IT, services, agreed to acquire a 60% stake in SLK Global, a provider of business process transformation services to the financial services industry, from Fifth Third Bank, a financial services company. Financial terms were not disclosed. "We expect very strong business synergies to be generated through this transaction. This differentiated, high growth, margin accretive business further strengthens our position in the North America Financial Services Industry and our BPM business. Coforge’s technology and digital capabilities will be highly relevant to SLK Global’s customer base that includes several marquee names in the BFS and Insurance industries, while the latter’s capabilities will enable Coforge to compete more effectively for deals that have a major BPM/BPO operations component. SLK Global also provides Coforge with an attractive tier 3 India city delivery location," Sudhir Singh, Coforge CEO.