Persistent Systems has secured approximately 94.04% of Nagarro’s share capital and voting rights, excluding treasury shares, taking the company well beyond the minimum acceptance threshold and strengthening the path toward completing its proposed acquisition of the German digital engineering company.
The final outcome includes 8,903,259 Nagarro shares tendered through the takeover offer, representing approximately 71.94% of Nagarro’s share capital and voting rights. Persistent already held a further 22.10% stake acquired under its agreement with Lantano Beteiligungen GmbH.
The additional acceptance period ended on October 6, during which 1,335,114 additional shares were tendered. The result gives Persistent more than 90% ownership, a level that could enable it to pursue a squeeze-out of remaining minority shareholders as part of its taking-private strategy. Persistent said no final decision on the squeeze-out has been made.
“The final results of our offer for Nagarro are a clear endorsement of the strategic logic behind bringing Persistent and Nagarro together. We now look forward to completing the remaining steps toward closing. Together, we will build the global AI-led digital engineering player we envision.” — Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems
The transaction is expected to close by the end of the first quarter of calendar 2027, subject to a limited number of outstanding regulatory approvals.
Strategically, the acquisition is aimed at combining Persistent’s AI-led digital engineering and enterprise modernization capabilities with Nagarro’s global digital engineering business. For Persistent, the transaction represents a significant step in its ambition to build a larger global AI-led digital engineering player.
The high acceptance level also reduces uncertainty around the transaction’s completion and gives Persistent greater control over the future integration and operating direction of Nagarro.
The next phase will therefore shift from shareholder acceptance to regulatory completion, integration planning and the execution of Persistent’s broader AI-led growth strategy.