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Advent International Acquires Majority Stake in Digital Engineering Services Provider Encora.

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MANews-(C)2009-2021

US-based private equity firm Advent International has acquired a majority stake in US-based digital engineering services company Encora's business, the firm said.

As part of the agreement, Warburg Pincus, the existing majority shareholder of Encora, retains a minority stake.

Encora is an established leader in outsourced software product development services, using deep technical expertise in machine learning, AI, data science, cloud services and other next-generation digital engineering disciplines to accelerate strategic innovation for tech-enabled companies whose market position and growth are driven by proprietary software products.

Since rebranding as Encora in 2020, the company has expanded its focus within the Consumer Tech and Enterprise Tech sectors, and grown its global talent pool to over 6,300 associates across 40 global offices across LatAm, India, APAC and the US.

This new partnership enables Encora to accelerate its global growth, both organically and through targeted M and A opportunities, expand its differentiated delivery model and advance its customer-facing digital services.

Encora continues to focus on serving the software and digital engineering needs of enterprise SaaS companies, midmarket technology companies, and large enterprises.

Advent, with USD 81bn in assets as of June 30, 2021, has invested in over 380 companies across 42 countries, throughout North America, Europe, Latin America and Asia.

It has significant investment...

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