- Softelligence will rebrand to operate under the Encora brand
- Warburg Pincus invested in Encora in 2019 and Advent acquired a majority stake in 2021
- Encora is a global digital engineering services company headquartered in Scottsdale, Arizona
Encora, backed by Advent International and Warburg Pincus, has completed the acquisition of Softelligence, a Romanian software engineering services provider.
No financial details of the transaction were disclosed.
Softelligence is based in Bucharest. It provides critical digital engineering services to top-tier insurers and banks in Europe covering paperless quote and bind flows, automation of the claims processing through AI, fraud detection using machine learning algorithms, corporate and speciality as well as digital lending.
Softelligence will rebrand to operate under the Encora brand.
The acquisition will establish Encora’s first delivery centres in Europe and enhances its ability to deliver nearshore services to clients in the Americas, Asia, Australia and Europe, according to a release.
Warburg Pincus invested in Encora in 2019 and Advent acquired a majority stake in 2021.
Encora is a global digital engineering services company headquartered in Scottsdale, Arizona.
Warburg Pincus is a global growth investor with over $83 billion in assets under management. The firm is headquartered in New York.
Advent is a global private equity investor based in Boston, Massachusetts.
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