Rs 21,133 cr acquisition! Coforge bets big on Encora to scale AI engineering and global delivery – Details

e-Encora deal: IT services ⁠provider Coforge, today, December 26, announced that it has signed definitive agreements to acquire U.S.-based AI firm Encora, from private equity groups Advent International and Warburg Pincus at an enterprise value of $2.35 billion (around Rs 21,133 crore in Indian rupees). The transaction is subject to customary closing conditions and regulatory approvals, Coforge said in a press release. The acquisition will be funded entirely through equity, with Coforge issuing preferential shares worth about $1.89 billion to Encora’s existing shareholders, including private equity firms Advent International and Warburg Pincus.