Coforge has officially completed its acquisition of Silicon Valley AI firm Encora for an enterprise value of $2.5 billion. Instead of proceeding with its planned QIP, the company funded the deal through a three-year $550 million loan facility at a fixed 4.6% interest rate. The move reshapes how the payment risk and cost will sit on its balance sheet.
Coforge has announced the immediate resignation of Executive Vice President Anup Kumar, who led M&A, and Manish Hemrajani, Head of Investor Relations. Kumar said he wants to pursue entrepreneurial ventures. During his time, Coforge completed five acquisitions and integrated Cigniti. The company is now managing leadership transitions as it charts its next strategy.
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