$PERSISTENT to Acquire Germany's Nagarro; Combined Revenue to Reach $2.9 Billion

$PERSISTENT has announced a voluntary public takeover offer to acquire all outstanding shares of German digital engineering company Nagarro through its subsidiary Galaxy Germany Holding at €81 per share in cash, one of the largest overseas acquisitions by an Indian IT services firm. The offer represents a 140% premium to Nagarro's June 25 closing price and a 94% premium to its three-month average price. The transaction is expected to be completed by Q4 CY2026 or Q1 CY2027. Persistent has secured support from Nagarro's largest shareholder, Lantano Beteiligungen GmbH , which holds 21% of the company. Following the acquisition, Europe is expected to contribute 22% of the combined entity's revenue, up from 9% currently, while North America will account for about 62%. The merged group is projected to generate $2.9 billion in revenue and gain access to a total addressable market exceeding $1.4 trillion, supported by more than 350 client relationships. Persistent Chairman and Managing Director Anand Deshpande said the acquisition is driven by shared engineering values, entrepreneurial culture, and a long-term commitment to client relationships, positioning the combined company to capitalize on the growing opportunities created by AI-led transformation. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.