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Encora Closes The Acquisition Of Romanian Software Engineering Services Company, Softelligence

Sep 06, 2023•almost 2 years ago

Acquiring Company

Encora

Acquired Company

Softelligence

Santa ClaraCyber SecurityMachine LearningArtificial IntelligenceInformation TechnologyArtificial IntelligenceFinancial ServicesFintechMachine Learning

Description

Encora, a global next-gen digital engineering services company, today announced that it has closed the acquisition of Softelligence, a Romanian software engineering services provider. The acquisition, originally announced on May 16, 2023, establishes Encora's first delivery centers in Europe and further enhances the company's ability to deliver nearshore services to clients in the Americas, Asia, Australia and now Europe.

Company Information

Company

Encora

Location

Santa Clara, California, United States

About

Encora is the preferred technology modernization and innovation partner to some of the world's leading enterprise companies. It provides award-winning digital engineering services including Product Engineering & Development, Cloud Services, Quality Engineering, DevSecOps, Data & Analytics, Digital Experience, Cybersecurity, and AI & LLM Engineering. Encora's deep cluster vertical capabilities extend across diverse industries, including HiTech, Healthcare & Life Sciences, Retail & CPG, Energy & Utilities, Banking, Financial Services & Insurance, Travel, Hospitality & Logistics, Telecom & Media, Automotive, and other specialized industries. 

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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