Coforge shares in focus on announcing $2.35 billion acquisition of AI firm Encora
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Shares of IT services provider Coforge will likely be in the spotlight on Monday, December 29, after the company announced a $2.35 billion acquisition of artificial intelligence firm Encora. The deal, which aims to bolster Coforge’s AI capabilities and expand its presence in the U.S. and Latin America, marks one of the company’s biggest international bets to date. Encora, backed by private equity players Advent International and Warburg Pincus, offers AI-led solutions in product, cloud, and data engineering. Coforge estimates that the combined entity could generate $2 billion in annual revenues by March 2027. The transaction is expected to close around the first quarter of FY27, with financials presented on a pro forma basis. Coforge has assumed cost synergies of $20 million from the deal, while amortisation is calculated on the $2.35 billion enterprise value, with 20% allocated to customer relationships over a 12-year life. Live Events S...