Persistent Systems to Acquire Nagarro for EUR 81/share, Creating AI-led Digital Engineering Leader
Persistent Systems is acquiring Nagarro for EUR 81 per share, a ~140% premium. The deal aims to create a USD 2.9 billion AI-led digital engineering leader with 46,000+ employees. Nagarro's management supports the offer, and Persistent has secured a 21% stake. Closing is expected in Q4 CY26/Q1 CY27.
This is a significant strategic acquisition that will substantially increase Persistent's scale, market presence, and capabilities, fundamentally altering its competitive positioning.
The acquisition is viewed positively as it creates a larger, more competitive entity in the AI-led digital engineering space, offering significant premiums to Nagarro shareholders and expected EPS accretion for Persistent shareholders.
Persistent Systems Limited has announced its intention to launch a voluntary public takeover offer for all outstanding Nagarro SE shares at EUR 81 per share. This all-cash offer represents a significant premium of approximately 140% to Nagarro's undisturbed closing price on June 25, 2026, and about 94% to its three-month volume-weighted average price.
Nagarro's Management and Supervisory Boards have expressed their support for the transaction and intend to recommend the offer to shareholders, pending a review of the offer document. Persistent has already secured a 21% stake in Nagarro through a binding agreement with its largest shareholder, Lantano Beteiligungen GmbH, which will sell its entire stake at the offer price, subject to customary regulatory approvals.
The proposed combination aims to create a global leader in AI-led digital engineering and enterprise modernization, with a combined revenue run-rate of approximately USD 2.9 billion and over 46,000 employees across 40+ countries. The merged entity will possess a diversified geographic footprint, with North America accounting for 62% of revenue and Europe contributing 22%. Nagarro, headquartered in Munich, brings approximately EUR 1 billion in CY2025 revenue, strong European client relationships, and deep expertise in digital, ERP, and CX capabilities.
Persistent Systems' CEO, Sandeep Kalra, stated that the combination strengthens their position in Europe, expands their scale in North America, and enhances their ability to help clients accelerate AI and digital transformation. Nagarro's CEO, Manas Human, emphasized the opportunity to deliver complex intelligence transformation programs at scale. The transaction is expected to be cash EPS accretive for Persistent shareholders in the first year.
The offer is contingent on a minimum acceptance threshold of 50% plus one share of Nagarro's outstanding shares. Persistent anticipates launching the offer after approval from BaFin, with closing expected in Q4 CY26 / Q1 CY27, subject to regulatory approvals. Following the transaction, Persistent intends to delist Nagarro shares from the Frankfurt Stock Exchange.
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Persistent Systems Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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