Persistent wins control of Nagarro with 83% stake, eyes delisting
- Persistent has secured about 83.25% of Nagarro’s share capital.
- About 61.15% was tendered, and 22.10% came from Lantano Beteiligungen.
- Remaining shareholders can tender at €81 per share until Oct. 6, 2026.
- Closing is expected by the end of the first quarter of calendar 2027.
PUNE, INDIA — Persistent Systems has secured about 83.25% of Nagarro SE, clearing the minimum acceptance threshold for its takeover of the German-listed engineering company and opening the way to a delisting from the Frankfurt Stock Exchange.
Nagarro shareholders who have not yet tendered can still accept the €81.00 (about US$88) per-share cash offer during an additional acceptance period running from Sept. 23 to Oct. 6, 2026.
Tendered shares and Lantano stake clear the threshold
During the acceptance period, which ended at midnight Central European Summer Time on Sept. 17, 7,568,145 Nagarro shares, or about 61.15% of its share capital, were tendered, according to a press release from Persistent’s bidding vehicle, Galaxy Germany Holding SE.
Persistent had already secured about 22.10% under a share purchase agreement with Lantano Beteiligungen GmbH, taking its combined position well past the minimum of 50% plus one share.
The result follows the €81.00-per-share offer Persistent announced in August.
“The success of the offer confirms its appeal and the strategic logic behind combining Persistent and Nagarro,” said Sandeep Kalra, chief executive officer and executive director of Persistent Systems.
“We now look forward to completing the remaining steps toward closing, so we may start building the global AI-led digital engineering leader we envisioned together,” Kalra said.
Delisting would take Nagarro out of the SDAX
Persistent intends to end the admission of Nagarro shares to the Prime Standard of the Frankfurt Stock Exchange as soon as practicable and legally feasible, a move that would remove Nagarro from the SDAX and reduce the liquidity of its shares.
Under the companies’ business combination agreement, Nagarro’s management board is willing to support the delisting, subject to its fiduciary duties.
The deal is expected to close by the end of the first quarter of calendar 2027, subject to a limited number of outstanding regulatory approvals.
Persistent, which has more than 28,500 employees in 21 countries, offers software engineering, data and analytics, cloud computing and agentic business automation services.
The result turns Persistent’s offer into majority control, leaving regulatory approvals and the delisting as the remaining steps.
For buyers of digital transformation and managed services work, the combined company would bring Nagarro’s engineering business under an India-listed provider focused on AI-led delivery.
Persistent is positioned to pitch clients a larger AI-led digital engineering business, a combination buyers comparing the top AI outsourcing companies will weigh.
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