Persistent Systems Limited Secures Majority Stake in Nagarro SE

Persistent Systems Limited, an Indian information‑technology services company listed on the National Stock Exchange of India, announced that it has obtained a controlling interest in the German IT services firm Nagarro SE. The takeover offer, conducted through a wholly‑owned subsidiary, Galaxy Germany Holding SE, concluded with a 94.04 % stake in Nagarro’s share capital and voting rights at the expiry of the additional acceptance period on 6 October 2026.

Transaction Structure and Timeline

  • Offer Vehicle: Galaxy Germany Holding SE, a wholly‑owned direct subsidiary of Persistent Systems Limited.
  • Shareholding Achieved: 94.04 % of Nagarro’s share capital and voting rights.
  • Squeeze‑out Plan: Persistent intends to initiate a squeeze‑out of remaining minority shareholders upon completion of the transaction.
  • Expected Closing: End of Q1 CY27, pending a limited number of regulatory approvals.
  • Regulatory Context: The offer has satisfied the statutory minimum acceptance threshold of 50 % plus one share and exceeds the threshold required for a takeover bid in Germany.

Market Impact

  • Index Replacement: The German exchange index SDAX will replace Nagarro with Procredit Holding from 14 October, following the completion of the acquisition.
  • Investor Communications: Persistent has issued a corrigendum to correct a typographical error in a prior investor correspondence dated 30 September 2026, ensuring accurate communication with institutional investors.

Company Profile

  • Sector/Industry: Information Technology – IT Services.
  • Primary Exchange: National Stock Exchange of India.
  • Currency: INR.
  • Market Capitalization: ₹862.58 billion.
  • Price‑to‑Earnings Ratio: 44.45.
  • Share Price (7 October 2026): ₹5,468.
  • 52‑Week Range: ₹4,244.50 – ₹6,599.

Persistent Systems Limited specializes in outsourced software product development, offering testing, support, and professional services. The acquisition of Nagarro is expected to expand Persistent’s global footprint and enhance its service portfolio in the European market.