coforge a announced on Friday, December 26, 2025, the conclusion of an agreement with the company American digital engineering company Encora. This is the acquisition of this company in the context of an all-stock transaction of a value company value of 2.35 billion dollars (approximately 21,140 crore rupees).

The acquisition of Encora is one of the most important overseas by an Indian IT services company of medium size and signals a stronger strategic shift towards engineering, data, and AI-driven cloud services

Indeed, the agreement values equity of Encora at around $1.89 billion (around 17,000 crores of rupees) and will allow Coforge to acquire 100% of the company from investors in Advent private equity International, Warburg Pincus and other minority shareholders. The difference between equity value and enterprise value, of up to 550 million dollars (around 4,100 crores of rupees), will be used to repay Encora's existing term loan.

As part of this acquisition, Coforge will issue approximately 93.8 million of shares at a unit price of 1,815.91 rupees, i.e. a premium of approximately 8.5% compared to Friday's closing price. After the transaction, the Encora shareholders will collectively own approximately 20% to 21% of the capital Coforge's extended social network.

The turnover by Coforge for fiscal year 2025 was approximately 1.4 billion dollars (about 12,600 crore rupees). This acquisition should significantly increase the share of engineering services, of AI-based data and clouds in the combined portfolio, these segments expected to contribute nearly $2 billion (approximately 18,000 crore rupees) to turnover by the fiscal year 2027.