Coforge Limited announced its board's approval for a significant strategic acquisition of Encora US Holdco, Inc. and Encora Holdings Ltd. (Cayman) for an enterprise value of US$2.35 billion (approximately ₹17,032.60 crore). This acquisition will be executed through a share swap arrangement, involving the issuance of 9,37,96,508 equity shares of Coforge at a price of ₹1,815.91 per share to the investors of Encora. The transaction aims to create a combined entity projected to be a US$2.5 billion tech services powerhouse, with a strong focus on AI-led engineering, cloud, and data services. Additionally, Coforge's board approved the potential raising of up to US$550 million (approximately ₹4,577 crore) through a Qualified Institutional Placement (QIP) or other permissible means. This capital will be used to retire debt, specifically a term loan in Encora. The company also plans to increase its authorized share capital from ₹77 crore to ₹102 crore to facilitate these transactions. The acquisition is expected to be completed within 4 to 6 months, subject to shareholder and regulatory approvals, including from the Reserve Bank of India and US authorities. The deal is structured as an all-stock transaction, with sellers rolling over their investment into Coforge, reflecting confidence in the expanded firm's prospects. The acquisition is anticipated to immediately scale Coforge's HiTech and Healthcare verticals, expand its nearshore delivery capabilities in LATAM, and increase its client footprint in the US West and Midwest.