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M&A Deal Summary

Encora Acquires Softelligence

On May 16, 2023, Encora acquired information technology company Softelligence

Acquisition Highlights
  • This is Encora’s 3rd transaction in the Information Technology sector.
  • This is Encora’s 1st transaction in Bulgaria.

M&A Deal Summary
Date 2023-05-16
Target Softelligence
Sector Information Technology
Buyer(s) Encora
Deal Type Add-on Acquisition

Target

Softelligence

Bucharest, Bulgaria
Softelligence enables organizations in Financial Services to accelerate growth with next-generation InsurTech through Automation, AI, and Machine Learning. It has the extensive industry knowledge and broad expertise in digital projects covering paperless quote-and-bind flows, automation of the claims process through AI, fraud detection using Machine Learning algorithms across personal and commercial lines, corporate and specialty as well as digital lending, Know Your Customer (KYC) and other digital banking flows. From data to insights with compelling dashboards, from manual processes and forms to pure digital customer journeys, the company is the partner of choice for many top-tier insurance companies and banks in Europe. Softelligence is based in Bucharest, Bulgaria.

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Buyer(S) 1

Buyer

Encora

Scottsdale, Arizona, United States
Category Company
Sector Information Technology
DESCRIPTION

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 is based in Scottsdale, Arizona.

DEAL STATS #
Overall 4 of 5
Sector: Information Technology M&A 3 of 4
Type: Add-on Acquisition M&A Deals 4 of 4
Country: Bulgaria M&A 1 of 1
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-26 Excellarate

Wayne, Pennsylvania, United States

Excellarate is a provider of customized software solutions and mission-critical IT services to insurance, healthcare and other companies that provide web-enabled services. Excellarate is based in Wayne, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-06 DMI - Commerce marketing & strategy and digital engineering services

McLean, Virginia, United States

DMI's Commerce, marketing & strategy, and digital engineering services offer an integrated suite of agile software development, and next-gen engineering solutions. DMI's Commerce, marketing & strategy, and digital engineering services are based in McLean, Virginia.

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