Persistent Systems acquires majority stake in Nagarro
Persistent Systems has successfully concluded its public tender offer for Nagarro SE. The company secured over 94% of Nagarro's shares and plans to proceed with the compulsory acquisition of remaining minority shares.
India-based Persistent Systems has successfully completed its public tender offer for the German technology firm Nagarro SE. The offer, launched by Galaxy Germany Holding SE, a wholly-owned subsidiary of Persistent, resulted in the acquisition of over 94.04% of Nagarro's shares and voting rights. This outcome significantly surpasses the initial minimum acceptance threshold of 50% plus one share.
In addition to the shares tendered through the offer, Persistent already held approximately 22.10% of Nagarro's shares through a prior share purchase agreement. The company has announced its intention to proceed with a compulsory acquisition of shares from the remaining minority shareholders once the transaction is formally closed. However, no final decision on this specific procedure has yet been made.
Persistent anticipates finalizing the transaction by the end of the first quarter of the calendar year 2027. The completion is contingent upon obtaining a few outstanding regulatory approvals. CEO Sandeep Kalra highlighted the strategic logic behind the combination, stating the company looks forward to moving forward with the integration to build an AI-driven global digital engineering entity.