M&A Deal Summary

COFORGE Acquires Encora

On December 26, 2025, COFORGE acquired information technology company Encora from Advent International for 2.4B USD

Acquisition Highlights
  • This is COFORGE’s 5th transaction in the Information Technology sector.
  • This is COFORGE’s largest (disclosed) transaction.
  • This is COFORGE’s 2nd transaction in the United States.
  • This is COFORGE’s 1st transaction in California.

M&A Deal Summary

Date 2025-12-26
Target Encora
Sector Information Technology
Buyer(s) COFORGE
Sellers(s) Advent International
Deal Type Divestiture
Deal Value 2.4B USD
Advisor(s) BDA Partners (Financial)
Khaitan & Co. (Legal)

Target

Encora

Santa Clara, California, United States
Encora is a global digital engineering services company specializing in software product development services for fast-growing enterprises and digitally native companies whose market position and growth are driven by proprietary software products. Encora was founded in 2005 and is based in Santa Clara, California.

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Buyer(S) 1

Buyer

COFORGE

New Delhi, India

Category Company
Founded 1992
Sector Information Technology
Employees25,620
Revenue 120.5B INR (2025)
DESCRIPTION

COFORGE is a global IT solutions organization addressing the requirements of clients across Americas, Europe, Asia, and Australia. COFORGE was founded in 1992 and is based in New Delhi, Haryana.


DEAL STATS #
Overall 6 of 6
Sector: Information Technology M&A 5 of 5
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-28 AdvantageGo

London, United Kingdom

AdvantageGo is a commercial insurance software provider specializing in underwriting workbench solutions for both the London and global commercial markets. The company delivers a single, modular platform designed specifically for specialty and commercial (re)insurers that empowers underwriters with an underwriting workbench, exposure management, and policy administration modules that drive the complete policy lifecycle from pre-bind risk and portfolio assessment value to policy renewals and beyond. AdvantageGo is based in London.

Sell -

Seller(S) 1

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 236 of 236
Sector: Information Technology M&A 16 of 16
Type: Divestiture M&A Deals 6 of 6
State: California M&A 8 of 8
Country: United States M&A 86 of 86
Year: 2025 M&A 6 of 6
Size (of disclosed) 5 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-22 Conservice

River Heights, Utah, United States

Conservice is a utility and billing management company that provides software and service solutions for over 1.6 million units in the rental housing industry. Conservice’s unique services include sending each tenant in a housing unit a single bill that encompasses rent, utilities, and any extra charges. Conservice was founded in 2000 and is based in River Heights, Utah.

Sell -