Nagarro Directors Recommend Accepting Persistent's Takeover Bid

Nagarro's Management Board and Supervisory Board have published their joint reasoned statement regarding the voluntary public takeover offer from Persistent Systems Oyj. The management recommends that shareholders accept the offer, which proposes the acquisition of Nagarro by Persistent Systems.

The offered price of EUR 81.00 per share has been assessed as adequate and fair. The management supports the strategic partnership that the takeover bid facilitates, believing it will benefit the company's long-term development. This decision is significant for Nagarro, a company operating in the IT services and software development sector.

The decision to accept the takeover offer from Persistent Systems follows negotiations conducted over recent months. The precise terms and timeline will be clarified in the coming weeks, but a preliminary recommendation has now been issued.

The company's management emphasizes that accepting the offer is in the shareholders' best interest, providing an opportunity to realize their investments at a competitive price. The strategic partnership is also expected to bring new growth opportunities to the combined entity.