India’s Coforge to acquire Encora in $2.35 billion deal to boost AI offerings

Indian IT services provider Coforge said on Friday it would acquire artificial intelligence firm Encora at an enterprise value of $2.35 billion to ‌boost its in-house ‌AI capabilities and expand its presence in the U.S. and Latin America.

Indian IT firms are exploring funding ‌projects related to AI technology, potentially opening up a significant new revenue stream as the buzz around the field grows.

Encora, backed by Advent International and Warburg Pincus, offers AI solutions for product, cloud and data engineering, with Coforge estimating $2 billion in annual revenues by March 2027.