Encora Group signs a definitive agreement to acquire Suvin Technologies to expand rapidly in the Asia Pacific region, and evolve as the leader in Collaborative Product Development - June 06, 2008

Encora Group, the emerging leader in Collaborative Product Development, offering complete software product life cycle solutions, today announced that it has entered into a definitive agreement to acquire Suvin Technologies, a Software services company headquartered in Singapore and having offices in Malaysia and Australia.

Encora was founded in 2005 and is backed by strong technology-focused private equity firms including Apar Investments and Basil Capital Partners. Encora leverages its comprehensive domain & solutions-cluster based engagement models. Since its inception, Encora has grown rapidly and provides services to 40+ software product companies from it's development labs in the US, Bangalore and Gurgaon.

"We are very excited with the acquisition of Suvin. Suvin's extensive expertise in the financial services vertical and product engineering capabilities brings immense strategic value to Encora and will further strengthen our presence in the Asia Pacific's growing market." said Venu Raghavan, CEO of Encora. The acquisition of Suvin Technologies will expand our ability to partner with technology companies worldwide and enable us to establish development labs for our customers on a global basis.

With over 400 consultants working on its projects, Suvin has been one of the fastest growing services companies in the region and has a strong reputation in the software consulting and information technology market in Asia Pacific. Suvin Technologies provides business and technology solutions to clients to improve their productivity & performance. Suvin provides a wide range of services to Software product companies and some of the world's largest financial services companies.

"We are delighted to join hands with Encora and contribute our knowledge, expertise and experience to Encora's portfolio. We believe with the global footprint and with Suvin's solid presence in the APAC markets, Encora will emerge as the true leader in the Financial Services and Collaborative Product Development marketplace" said Aditya Srivastava, Managing Director, Suvin Technologies, Singapore.

"Acquisition of Suvin substantially enhances Encora's ability to deliver software services for it's clients, out of several locations worldwide. Suvin's strong consulting background, combined with Encora's deep product engineering and IT capabilities, will create unique added value for our Customers in Singapore." added Mr. Nitin Panchmal, Chief Operating Officer of Encora. The combined Encora - Suvin organization will touch about 1000 employees and plans to grow to over 3000 people over the next 3 years, he said.

About Encora

Encora, the emerging leader in Collaborative Product Development, offers a portfolio of software product life cycle solutions to SME Software product companies. Encora provides end-to-end services to global software product companies which includes product management, product engineering and professional services, onsite, nearshore and also through offshore delivery supplemented by on-site execution. The company is headquartered in Scottsdale, Arizona with offices in Pittsburgh, Santa Clara, Boston, Bangalore & Gurgaon, India.

For more information, visit : www.encorainc.com

About Suvin Technologies

Suvin Technologies is part of the Arvind Mafatlal Group of India which has diversified business interests & enterprises in Specialty Chemicals, Rubber Chemicals, Textiles, Garments and Information Technology. Suvin Technologies provides Software Solutions, Infrastructure and Technical services to a large and growing list of Fortune 500 corporations based out of Singapore, Malaysia and Australia.

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