Encora announces the acquisition of Excellarate, strengthening its capabilities in HealthTech, FinTech and InsurTech
Excellarate adds critical expertise in AI, analytics and automation to Encora’s expansive portfolio
SCOTTSDALE, Ariz., 26 January 2023 /PRNewswire/ — Encora, a global next-generation product engineering provider, announced today that it has acquired Excellarate, a global technology solutions and services company. The acquisition enhances Encora’s capabilities in AI, Analytics and Automation, and deepens Encora’s industry expertise in HealthTech, FinTech and InsurTech. With Excellarate’s 1,300+ engineers, Encora expands its global talent pool to over 9,000 engineers.
“Excellate has a long history of serving a wide range of rapidly growing clients in HealthTech, FinTech and InsurTech and we are delighted 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 advance our goal of becoming the leading global technology solutions provider.”
“Excellate is honored to join a company with a reputation for delivering high-quality, industry-leading digital solutions to clients in many different high-growth industries around the world,” said Nick Sharma, CEO, Excellarate. “Venu, the management team and everyone we’ve met at Encora have welcomed us with open arms. We see this acquisition as a fantastic fit culturally, and feel our capabilities will provide critical value to Encora’s current and future customers.”
“Frontenac is proud to have partnered with the Excellarate team and supported its exceptional growth over the past three years,” said Joseph Rondinelli, CEO of Frontenac. “The company is well positioned for continued growth in this dynamic market, and we look forward to following its progress and achievements into the future under new ownership and leadership from Encora.”
Over the past few years, Encora has expanded its global delivery footprint through a combination of organic and inorganic growth. Acquisitions of Daitain, Avantica, Nearsoft and Söoryen Technologies have added significant technical expertise and geographical coverage in Latin America and India. Encora is certified as a great place to work® in India as well as in all six Latin American countries where Encora has operations. Including Excellarate employees, 90% of Encorians work in a country where Encora is a great place to work®.
To learn more about Encora and its product engineering services, visit www.encora.com.
About Encora
With headquarters in Scottsdale, Arizona and backed by private equity firm Advent International, Encora is the innovation partner of choice for some of the world’s leading technology companies. It offers next-generation services such as Predictive Analysis, Machine Learning, Artificial Intelligence, IoT, Cloud and Test Automation. Encora has deep cluster vertical capabilities in HealthTech, FinTech & InsurTech, HiTech, IAM & Cybersecurity, Digital Commerce, EdTech, Supply Chain & Logistics, Telecom and other specialized industries. With over 7,600 employees in 40+ offices and innovation labs across the US, Canada, Mexico, Costa Rica, Colombia, Bolivia, Peru, Brazil, Indiaand Asia Pacific, Encora’s global talent pool, micro industry vertical expertise and proprietary agile engineering capabilities enable customers to improve speed to impact. For more information, please visit www.encora.com.
About Excellarate
Excellarate is a global technology services and solutions company with over 20 years of domain expertise in healthcare, insurance, finance and enterprise technologies. The company is a trusted partner with over 250 customers including Change Healthcare, Ad Giants, Alchemy Systems and Centric Software to accelerate innovation and achieve business agility. Excellarate has strategic technology and solution partners including AWS, Azure, GoogleCloud, Appian and Salesforce to help drive digital transformation for our customers. With over 1,300 engineers across the board North America and IndiaExcellarate offers a dual-shore delivery model that empowers clients to drive innovation and accelerate time-to-market.
About Frontenac
Frontenac is one Chicago-based private equity company. The firm focuses on investing in acquisition transactions in the lower middle market in the consumer, industrial and service industries. Frontenac works in partnership with established operating managers, through an executive-centric approach called CEO1ST, which seeks to identify, acquire and build market-leading companies through transformational acquisitions and operational excellence. Over the past 50+ years, Frontenac has built a leading franchise working with over 300 mid-sized business owners as they address complex transition issues such as liquidity, management improvement and growth planning. For more information, please visit www.frontenac.com.
SOURCE Encora
