Neil McDonald
Partner
London
We acted as Cayman law counsel to Coforge Limited on its acquisition of Encora, a digital and software engineering services company owned by Advent International and Warburg Pincus, for an aggregate consideration of approximately US$2.35 billion. The transaction is subject to customary closing conditions and regulatory approvals.
The acquisition represents one of the largest transactions by an Indian IT services firm. It will be funded through a preferential allotment of equity shares, pursuant to which Encora shareholders will hold approximately 20% of the expanded share capital of Coforge Limited upon completion of the transaction.
Working alongside leading Indian law firm, JSA Advocates & Solicitors, our multi-disciplinary team advised on the Cayman law aspects of the transaction.
Our team was led by Neil McDonald, Head of our Corporate and M&A Group in London, with support from partners Benjamin Twidle (Regulatory), Jennifer Maughan (Insolvency & Dispute Resolution) and James Denham (Corporate and M&A), senior associate Catherine Outerbridge (Corporate and M&A), associates Sheila Yee (Regulatory) and Natalie Selman (Corporate and M&A), and senior paralegal Colin Girgenti (Corporate and M&A).
Neil said: 'We were delighted to support Coforge on a transaction of this scale. The deal both underlines the momentum in AI led engineering and demonstrates the flexibility of Cayman corporate law for executing complex cross border M&A. Congratulations to the Coforge team and everyone involved.'
This latest mandate reinforces our standing as trusted advisers for clients driving innovation in AI, fintech and digital transformation. We recently advised AIR Limited on its US$1.7bn business combination with Cantor Equity Partners III Inc, guided Optasia through a record-setting JSE listing and supported Coinbase on its US$375m acquisition of Echo.
