Persistent Systems acquires additional 61 pc stake in Germany’s Nagarro

New business data points to the fact that IT services provider Persistent Systems on Tuesday stated it has acquired an additional 61.15 per cent stake in German digital engineering firm Nagarro SE.

Earlier, Persistent had secured a 22.10 per cent stake in the Frankfurt-listed firm under a share purchase agreement with Lantano Beteiligungen GmbH.

With this, it has now secured an aggregate 83.25 per cent stake in the German firm and surpassed the minimum threshold of 50 per cent shareholding required for the transaction to proceed, Persistent Systems stated in a regulatory filing.

The takeover offer was executed through Galaxy Germany Holding SE, a wholly-owned direct subsidiary of Persistent Systems.

During the acceptance period, which concluded on September 17, 2026, a total of 7,568,145 shares, representing approximately 61.15 per cent of Nagarro's total share capital and voting rights, were tendered by shareholders.

Under the provisions of the German Securities Acquisition and Takeover Act, an additional two-week acceptance period will commence on September 23, 2026, and conclude at midnight (CEST) on October 6, 2026. Nagarro shareholders who have not yet tendered their shares can accept the offer at the same cash consideration of EUR 81 per share during this window, the filing stated.

"We have offered Nagarro shareholders an attractive opportunity to realise full and immediate value. The success of the offer confirms its appeal and the strategic logic behind combining Persistent and Nagarro," stated Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent Systems.

He further noted that the firm looks forward to completing the remaining steps toward closing to build an "AI-led digital engineering leader".

Earlier this year, when Persistent announced the acquisition, it stated the move will create a global AI-led digital engineering powerhouse with a USD 2.9 billion topline run rate.

Following the consummation of the offer, Persistent plans to pursue a delisting of Nagarro's shares from the regulated market (Prime Standard) of the Frankfurt Stock Exchange and other open trading platforms.

Persistent noted that the delisting would lead to Nagarro's exclusion from the German SDAX index and a reduction in share liquidity. Its Management Board has agreed to backing the proposed delisting.