• Encora, a global digital engineering services company, and Advent International, a global private equity firm, announced that Advent has acquired a majority stake in Encora’s business at valuation of $1.5 Billion.
  • Warburg Pincus, the existing majority shareholder of Encora, now retains a minority stake.

Encora Inc.:

  • Headquartered in Scottsdale, AZ, Encora is into software and digital engineering services. Encora provides differentiated innovation services and software engineering solutions across a wide range of leading-edge technologies, including Big Data, analytics, machine learning, IoT, mobile, cloud, UI/UX, and test automation.
  • Encora has over 6,300 associates in 40+ offices and innovation labs across U.S., Mexico, Costa Rica, Brazil, Colombia, Peru, Bolivia, India, and Asia Pacific.

Advent International:

  • Founded in 1984, Advent International is a global private equity investor. The firm has invested in over 380 companies across 42 countries, and as of June 30, 2021, had $81 billion in assets under management.
  • Indian investments of Advent include RA Chem pharma, Aditya Birla Capital, Bharat serum and vaccines, DFM foods, Care Hospitals etc.


  • Encora aims to accelerate its global growth, both organically and through targeted M&A opportunities, expand its differentiated delivery model and advance its customer-facing digital services.
  • Venu Raghavan, co-founder and Chief Executive Officer of Encora commented that Advent’s deep business and technology services sector expertise, along with its global footprint, complements Encora’s strengths and creates opportunities to grow our business in key markets around the world.
  • Jan Janshen, Managing Partner at Advent commented that they believe Encora is well positioned to capitalize on the growing digital services market, and they are excited to partner with Venu, Encora’s talented management team, and Warburg Pincus to support the company’s growth in key markets across North America, Europe, India, Asia Pacific and Latin America, where Advent has a strong presence and domain expertise.
  • Warbug Pincus made significant returns in this deal as while it had acquired the majority stake in Encora (then known as Indecomm Digital Services Inc.) for $200 Million in August 2019, it got exit in this deal at a firm valuation of $1.5 Billion.



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