India’s Coforge Limited, a leading IT services firm with projected revenues of $1.45 billion for March 2025, has announced a major acquisition of Encora, a global technology services provider. The deal, valued at an enterprise value of $2.35 billion, will be executed through a share swap arrangement, according to reports. This strategic move aims to bolster Coforge’s offerings in artificial intelligence, data engineering, and product development.
Encora, which has a significant presence in the digital transformation space, is expected to complement Coforge’s existing capabilities, enhancing its ability to serve clients in emerging technology sectors. The acquisition underscores the ongoing consolidation in the IT outsourcing industry, driven by the increasing demand for advanced digital and AI solutions. Details of the transaction were reported by Bloomberg on December 26, 2025, highlighting its significance as potentially the “deal of the year” in the IT services sector.
The move consolidates Coforge’s position in a competitive global market while expanding its technological expertise. As both companies prepare for integration, industry analysts see this as a strategic step to meet rising client needs for innovative, data-driven solutions. The deal is subject to customary closing conditions and regulatory approvals.