Encora acquires IT Firm Excellarate strengthening its capabilities in HealthTech, FinTech and InsurTech By CIOTechOutlook Team

Encora acquires IT Firm Excellarate strengthening its capabilities in HealthTech, FinTech and InsurTech

CIOTechOutlook Team | Friday, 27 January 2023, 03:57 IST

Global provider of next-generation product engineering, Encora, today disclosed that it had acquired Excellarate, a provider of technology solutions and services on a global scale. The acquisition deepens Encora's market knowledge in HealthTech, FinTech, and InsurTech and strengthens its strengths in AI, Analytics, and Automation. Encora's worldwide talent pool now includes more than 9,000 engineers thanks to Excellarate's 1,300+ engineers.

"Excellarate has a long history serving a wide range of fast-growing clients in HealthTech, FinTech and InsurTech and we are thrilled to welcome them to the Encora family," said Venu Raghavan, Founder and CEO, Encora. "Nick Sharma and his team will provide valuable expertise and capabilities to strengthen our customer offerings and further our mission of becoming the leading global engineering solutions provider."

"Excellarate is honored to join a company with a reputation for delivering high-quality, industry leading digital solutions to customers in many different high-growth industries around the world," said Nick Sharma, CEO, Excellarate. "Venu, the leadership team, and all those we have met at Encora have welcomed us with open arms. We see this acquisition as a tremendous fit culturally, and feel that our capabilities will provide critical value to Encora's current and future customers."

"Frontenac is proud to have collaborated with the Excellarate team, supporting its exceptional growth over the last three years," said Joseph Rondinelli, Managing Director of Frontenac. "The company is well-positioned for continued growth in this dynamic market, and we look forward to following its progress and accomplishments in the future under new ownership and leadership from Encora."

Encora's global delivery presence has grown over the past few years as a result of both organic and inorganic expansion. The addition of considerable technical know-how and geographic presence in India and Latin America resulted through the acquisitions of Daitain, Avantica, Nearsoft, and Söoryen Technologies. In addition to the six nations in Latin America where Encora conducts business, including India, Encora has earned the Great Place to Work designation. 90% of Encorians—including Excellarate staff—work in nations where Encora is a Great Place to Work.