Coforge to acquire US-based AI firm Encora for ₹21,000 crore

Indian IT services firm Coforge said it will acquire US-based AI company Encora in a $2.35-billion (over ₹21,000 crore) all-stock deal. The acquisition will be executed through a share swap, with Coforge issuing 93.8 million equity shares at ₹1,815.91 each, implying a non-cash consideration of about ₹17,032 crore. Encora shareholders will hold around 21.25% of Coforge's post-issue equity capital.