Persistent Systems agrees to buy Germany's Nagarro at EUR 81 a share, a 140% premium

Persistent Systems Limited agreed to acquire Munich-headquartered Nagarro SE through an all-cash public takeover at EUR 81 per share, the companies said on June 27, 2026. The price is a roughly 140 percent premium to Nagarro’s undisturbed June 25 closing price.

The deal would create one of the larger pure-play AI engineering services groups outside the big consultancies. The combined company would carry a company-stated revenue run-rate of about $2.9 billion, with more than 46,000 employees across over 40 countries and 350-plus marquee client relationships, according to Persistent’s announcement. The $2.9 billion figure is the combined run-rate, not the deal’s headline price, which the companies did not disclose in euros.

Persistent, based in Pune, India, reported about $1.7 billion in fiscal 2026 revenue and employs more than 27,500 people. Nagarro booked roughly EUR 1 billion in 2025 revenue with about 18,500 staff. The offer also represents about a 94 percent premium to Nagarro’s three-month volume-weighted average price.

“This combination strengthens our position in Europe, expands our scale in North America, and enhances our ability to help clients accelerate their AI and digital transformation journeys,” Persistent Chief Executive Sandeep Kalra said. Persistent has already locked in a binding agreement to buy about 21 percent of Nagarro from its largest shareholder, Lantano Beteiligungen GmbH, at the offer price, and Nagarro’s boards intend to recommend the deal.

The takeover is not closed. It requires a minimum acceptance of 50 percent plus one share, financing committed by Barclays, and clearance from Germany’s financial regulator, BaFin, of the offer document. Persistent expects to complete the deal in the fourth quarter of 2026 or the first quarter of 2027, followed by a planned delisting from the Frankfurt Stock Exchange.

The acceptance threshold and BaFin review are the gates to watch over the next two quarters.