Coforge to Acquire AI Firm Encora for $2.35 Billion, Approves $550M Fundraising

• IT services firm Coforge will acquire US-based AI firm Encora for an enterprise value of $2.35 billion.
• The acquisition is an all-stock transaction, with Coforge issuing $1.89 billion in preferential shares to Encora's shareholders.
• Encora's current shareholders, including Advent International and Warburg Pincus, will hold a 20% stake in Coforge.
• Coforge's board also approved a $550 million fundraising plan to retire Encora's existing debt.
• The deal aims to create a $2.5 billion tech services powerhouse with strong AI-led engineering capabilities.

Why It Matters: Coforge's $2.35B Encora acquisition and $550M fundraising boost its AI and tech services.