This acquisition marks Encora’s formal entry into the European market. Softelligence will support Encora’s strategic expansion into Europe and bolster its capabilities to serve clients in new markets, such as U.K, continental Europe and beyond.
The transaction is subject to customary regulatory approvals and is expected to close in mid-2023.
Founded in 2006, Softelligence (www.softelligence.net) 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.
Headquartered in Arizona, United States of America, Encora (www.encora.com) is an established leader in software and digital engineering services, specializing in innovation acceleration for leading edge technology companies. Encora has over 9,000 associates in 48 offices and innovation labs across across the U.S., Europe, Latin America, India and Asia Pacific.
The SAA team advising on the Romanian law elements of the transaction was led by Managing Partner Silviu Stratulat and Partner Cristina Man and included Partners Ana Kusak (Competition), Andrei Albulescu (Employment) and Associate Alexandru Lazar (Intellectual Property).