Mega M&A alert: Coforge to acquire US-based Encora in $2.35 billion all-stock deal

Coforge will acquire US-based Encora at a $2.35 billion enterprise value in an all-stock deal, with Warburg Pincus and Advent gaining a 20% stake.

Written by fazal rahim

Updated: December 26, 2025 17:57 IST

Coforge will acquire US-based tech company Encora at an enterprise value of $2.35 billion

Coforge is acquiring US-based tech company Encora at an enterprise value of $2.35 billion. In an exchange filing, the Indian IT said that it has signed a definitive agreement with Encora’s majority shareholder, Warburg Pincus and Advent International, to acquire a 100 per cent stake in an all-stock deal.

Coforge will pay $1.89 billion in the form of equity through preferential allotment to Encora’s stakeholders. This will result in Encora’s stakeholders, Warburg Pincus and Advent International and other minority shareholders acquiring about 20 per cent stake in Coforge.

Additionally, the remaining cost will be financed through a bridge loan or Qualified Institutional Placement (QIP) of $550 million to retire the term loan in Encora.

Coforge added in the exchange disclosure that the shareholder’s approval will be secured within 30 days of signing, while the regulatory approvals are expected within 4 to 6 months of signing

This article was first uploaded on December twenty-six, twenty twenty-five, at fifty-one minutes past five in the evening.