Encora Acquires Softelligence to Create the First Delivery Centers in Europe

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Encora, a global next-gen digital engineering provider, today announced that it has signed a definitive agreement to acquire Softelligence, a Romanian software engineering services provider, to establish Encora’s first delivery centers in Europe. Encora’s growing global presence enables the company to deliver nearshore services to clients in the Americas, Asia PacificAustralia and now Europe as well.

“Softelligence is expected to greatly expand our global reach and strengthen our ability to provide high-quality, nearshore services for customers across the world,” said Anand Birje, CEO, Encora. “We are delighted to welcome Adrian Blidarus and his team, as they will provide critical expertise to enhance our capabilities and further our mission of being the leading global engineering solutions provider.”

Softelligence offers a comprehensive array of software engineering services and digital solutions for banking, insurance and other industries. Through its offices and delivery sites in Bucharest and Craiova (Romania) and in Skopje (Macedonia), Softelligence enables organizations in the Insurance and Banking industries to accelerate data-driven growth with next generation InsurTech, automation, AI, machine learning and software engineering.

“We’re very pleased to become part of the Encora family and we feel that this partnership will greatly strengthen our ability to serve customers in the U.K, continental Europe and beyond,” said Adrian Blidarus, founder and CEO, Softelligence.

“Softelligence and Encora fit very well together culturally, and we feel that our capabilities will provide critical value to current and future customers.”

Also Read: Top Digital Transformation Considerations for Financial Organizations

“Today’s announcement signals Encora’s formal entry into the European market. We are thrilled to partner with the Softelligence team to bring world-class software engineering services to clients across every economic center in the world,” said Venu Raghavan, Founder and Executive Chairman, Encora.

Encora has grown to more than 9,000 associates across the U.S., EuropeLatin AmericaIndia and Asia Pacific. Softelligence will support Encora’s strategic expansion into Europe and bolster its capabilities to serve clients in new markets.

Terms of the transaction were not disclosed. Under the agreement, Softelligence will continue to operate with its existing leadership and staff as a wholly owned subsidiary of Encora. The transaction is subject to customary regulatory approval and is expected to close in mid-2023. Upon the closing, Softelligence will begin implementing rebranding to operate under the Encora brand.

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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