Indian IT services provider Persistent Systems has entered a business combination agreement to launch a voluntary public takeover of Munich-based digital engineering firm Nagarro SE for EUR 81 per share, creating a combined entity with USD 2.9 billion in annual revenue.
Persistent Systems, through its wholly owned subsidiary Galaxy Germany Holding SE, has launched an all-cash voluntary public takeover offer to acquire German digital engineering firm Nagarro SE at EUR 81 per share. According to official joint disclosures, the offer price represents a 140 percent premium over the target’s undisturbed closing price on June 25. Persistent has already secured a 21 percent ownership stake via a binding agreement with Nagarro's largest shareholder, Lantano Beteiligungen GmbH. The transaction is subject to a minimum acceptance threshold of 50 percent plus one share and regulatory clearance from Germany’s financial supervisor, BaFin, with closure anticipated between late 2026 and early 2027. Persistent Systems is an India-based multinational information technology company specializing in cloud computing, digital engineering, and enterprise modernization. Nagarro SE is a Munich-listed software development consultancy that generated roughly EUR 1 billion in revenue in 2025.
Backed by committed financing from Barclays, this transaction underscores an aggressive consolidation cycle among mid-tier offshore IT service providers seeking global scale to deploy artificial intelligence-led frameworks. The merger blends Persistent's established North American presence with Nagarro’s 18,500-strong workforce and its deep automotive and enterprise resource planning client base across continental Europe.
On an industry scale, this acquisition demonstrates how major software exporters are reallocating capital to bypass slow organic growth in traditional geographic sectors. For enterprise buyers and technology investors, the integration creates a dual-hemisphere entity generating USD 2.9 billion in combined annual revenue. By intending to delist Nagarro from the Frankfurt Stock Exchange post-closing, Persistent aims to optimize governance structures and provide localized, high-end digital transformation capabilities at scale without immediate public market regulatory friction.
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