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All-stock Encora acquisition lifts Coforge sentiment despite recent stock weakness
Coforge shares gained after announcing a $2.35 billion all-stock acquisition of Encora, aimed at strengthening AI-led engineering, data, and cloud services capabilities.
Shares of moved higher after the company announced a definitive agreement to acquire Silicon Valley-based AI firm in an all stock deal valued at $2.35 billion. The transaction will see Coforge issue preferential shares to Encora’s shareholders, including Advent International and Warburg Pincus, resulting in a 20% stake post-merger. Management said the acquisition strengthens AI-led engineering, data, and cloud capabilities, even as the stock remains under pressure year to date.