Persistent Systems offers to acquire Nagarro in approximately $1.7 billion public takeover offer

26 Jun 2026

Galaxy Germany Holding SE, a wholly owned direct subsidiary of Persistent Systems Limited, launched a voluntary public takeover offer for all outstanding shares of Nagarro SE at EUR 81.00 per share, following a business combination agreement among the bidder, Persistent Systems Limited and Nagarro SE. The offer was announced in late June 2026 and was supported by Nagarro SE’s Management Board and Supervisory Board, subject to review of the offer document. On August 14, 2026, the boards published their joint reasoned statement under Section 27 of the German Securities Acquisition and Takeover Act and recommended that shareholders accept the offer, describing the offer price as adequate and fair. The acceptance period began on August 6, 2026 and is scheduled to end on September 17, 2026, Frankfurt am Main local time. The offer remains subject to conditions, including a minimum acceptance threshold of 50 percent plus one share, merger control clearances, foreign direct investment approvals in several jurisdictions and clearance under Indian FEMA law by the Reserve Bank of India. Closing is anticipated in Q4 2026 or Q1 2027. Persistent has also secured approximately 20 percent of Nagarro through a binding agreement with Lantano Beteiligungen GmbH, and the transaction is intended to form an AI-led digital engineering group with an approximately US$2.9 billion revenue run-rate and more than 46,000 employees across 40-plus countries.