Nagarro SE Announces Business Combination with Persistent Systems

Nagarro SE has inked a business combination agreement with Persistent Systems, a technology company based in India. This strategic move includes a voluntary public takeover offer priced at EUR 81 per Nagarro share, marking a 93.5% premium over the recent average Xetra price. The agreement allows Persistent's subsidiary, Galaxy Germany Holding SE, to purchase shares from Nagarro's founding shareholder.

The deal requires a minimum acceptance of over 50% of Nagarro shares and anticipates closure by early 2027. Post-transaction, Persistent might delist Nagarro from Frankfurt's Prime Standard, aligning with Nagarro's Management Board for strategic execution.

The takeover aims to enhance Nagarro's growth, leveraging improved market access and capabilities. Nagarro's leadership supports this offer barring objections during regulatory review. The offer document will soon undergo BaFin review, post which it will be published.