Persistent Systems to Acquire Nagarro & Wins USD 650M+ Cloud Deal

(Persistent Systems Limited) has made two transformative announcements that significantly accelerate its global scale, AI capabilities, and revenue visibility: 1. Acquisition of Nagarro SE Deal Structure: Persistent has signed a Business Combination Agreement to acquire Nagarro via a voluntary public takeover offer at EUR 81 per share (a ~140% premium). Creating a Powerhouse: The merger creates an AI-led digital engineering leader with a combined revenue run-rate of ~USD 2.9 billion and over 46,000 employees. It strategically merges Persistent’s AI engineering and North American scale with Nagarro’s European footprint and ERP/CX expertise. Timeline: Subject to a minimum 50%+1 share acceptance, closing is expected in Q4 CY26 / Q1 CY27, followed by Nagarro's delisting. 2. Landmark USD 650M+ Cloud Services Deal Deal Details: Persistent executed a 6.5-year strategic services agreement with an undisclosed U.S.-based global technology leader. Financials: The Total Contract Value (TCV) exceeds USD 650 million, with an Annual Contract Value (ACV) of over USD 125 million. Scope: The partnership focuses on end-to-end enterprise Cloud services, AI-driven platforms, Site Reliability Engineering (SRE), and product development across North America, Europe, and APAC. Strategic Outlook: These dual announcements massively accelerate Persistent's growth trajectory. The Nagarro acquisition provides immediate global scale and complementary technological depth, while the mega cloud deal secures robust, long-term revenue visibility. Together, they firmly position.