Advent International, a global private equity firm, completed the acquisition of a majority stake in Encora, a global digital engineering services company, from Warburg Pincus, an American New York-based private equity firm, at a $1.5bn valuation. "We are thrilled to enter into this partnership with Advent as we continue to scale our differentiated software engineering service offerings. Advent's deep business and technology services sector expertise, along with its global footprint, complements Encora's strengths and creates opportunities to grow our business in key markets around the world. Warburg Pincus has been a great partner to us over the last two and a half years, accelerating our rapid growth to a valuation of approximately $1.5bn. We look forward to continuing to work alongside them in this next phase of growth," Venu Raghavan, Encora CEO.