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Informist, Tuesday, Aug. 4, 2026

 

NEW DELHI – Persistent Systems Ltd. Tuesday said its shareholders have approved the proposed acquisition of German digital engineering firm Nagarro SE through its subsidiary, Galaxy Germany Holding SE, along with the related financing arrangements and corporate guarantee. A requisite majority of votes was cast in favour of the transaction at the company's annual general meeting Monday, according to an exchange filing.

 

The offer document has been submitted for review and will be published upon approval by the German Federal Financial Supervisory Authority, which will launch the acceptance period for Nagarro shareholders, Persistent Systems said. The offer will be implemented exclusively on the basis of the applicable provisions of German law and certain securities law provisions of the US relating to cross-border takeover offers.

 

In June, Persistent Systems had disclosed the intention to launch a voluntary public takeover offer for all outstanding Nagarro shares at 81 euros per share, which then represented a premium of 140% to the undisturbed closing price on Jun. 25 and about 94% to the three-month volume-weighted average price. Persistent Systems had already secured around 21% stake in Nagarro, with the largest shareholder of the latter committing its entire stake under a binding agreement.

 

"Persistent and Nagarro are a perfect strategic fit, combining Persistent's AI (artificial intelligence)-led engineering leadership, North American scale and partnership depth with Nagarro's European business, complementary verticals...to create a ~USD 2.9 billion AI-led engineering powerhouse with 46,000+ employees across 40+ countries," it had then said.

 

This deal marks one of the largest overseas acquisitions by an Indian information technology services company.

 

Persistent Systems reported a consolidated net profit of INR 4.83 billion for the June quarter on revenues of INR 43.03 billion. Tuesday, its shares ended at INR 5,499 on the National Stock exchange, down 1.4% from Monday.  End

 

Reported by Shakshi Jain

Edited by Shubhayan Bhattacharya

 

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