Advent takes majority stake in digital engineering services company Encora

Warburg Pincus, the present majority shareholder of Encora, would retain a minority stake

Private equity major Advent International has acquired a majority stake in Encore, a global digital engineering services company with innovation labs in India and the US, for $1.5 billion.

As part of the agreement, Warburg Pincus, the existing majority shareholder of Encora, has sold its stake and now retains a minority stake.

“We are thrilled to enter into this partnership with Advent as we continue to scale our differentiated software engineering service offerings,” said Venu Raghavan, chief executive officer, Encora. “Advent’s deep business and technology services sector expertise, along with its global footprint, complements Encora’s strengths and creates opportunities to grow our