India, Dec. 26 -- Coforge Ltd. has agreed to acquire Encora Inc., a Silicon Valley-based software engineering firm, at an enterprise valuation of $2.35 billion, betting on the surging demand for AI-driven technology services.

The Coforge-Encora acquisition deal will be funded via a preferential allotment of equity shares valued at about $1.89 billion, according to an exchange filing on Friday (26 December 2025). Upon completion, Encora's current shareholders-including private equity firms Advent International and Warburg Pincus-will hold approximately 20% of the expanded share capital of Coforge.

"The Encora acquisition is a defining moment for our organisation," Coforge's Chief Executive Officer Sudhir Singh said in a statement. "It es...