Coforge has announced a $1.89 billion all-stock acquisition of US-based Encora, its largest deal to date. The acquisition aims to significantly scale Coforge's operations, particularly in healthcare and high-tech verticals, and expand its delivery capabilities in Latin America. Analysts note the strategic logic but emphasize that success hinges on Coforge's execution in integrating Encora, re-accelerating its growth, and managing funding concerns. While Encora's organic growth has slowed, its higher margin profile is expected to benefit Coforge, with the combined entity targeting $2 billion in AI-led services revenue by FY27.