Bengaluru, Dec. 26 -- Coforge Ltd on Friday unveiled the largest acquisition by an Indian IT services company, agreeing to buy Encora, a US data analytics and digital engineering firm, for $2.39 billion - a deal that analysts said is steeply priced but could materially expand the company's growth runway.

The transaction surpasses the previous record set in 2018, when HCL Technologies acquired seven software products from IBM for $1.8 billion.

California-based Encora, which ended with $516 million in revenue last year, is owned by private equity giants Advent International and Warburg Pincus. The deal will add about 9,200 employees to the workforce of Coforge, which ended last year with about 34,000 employees.

In a filing to the stock e...