- Approximately 94.04%1 of Nagarro share capital secured at expiry of the additional acceptance period, significantly exceeding the minimum acceptance threshold of 50% plus one share
- Having secured more than 90% of Nagarro's share capital1 and voting rights, Persistent plans a squeeze-out of the remaining minority shareholders of Nagarro upon closing. No final decision has been taken yet
- The transaction is expected to close by the end of Q1 CY27, subject to only a limited number of outstanding regulatory approvals
MUNICH and PUNE, India, Oct. 9, 2026 -- Galaxy Germany Holding SE (the "Bidder"), a wholly-owned direct subsidiary of Persistent Systems Limited (together "Persistent"), today announced the final results for its Voluntary Public Takeover Offer for all outstanding shares of Nagarro SE ("Nagarro") (the "Offer") following expiry of the statutory additional acceptance period at midnight (CEST) on October 6, 2026.
During the additional acceptance period, a further 1,335,114 Nagarro shares were tendered into the Offer. Together with the 7,568,145 Nagarro shares tendered during the initial acceptance period, a total of 8,903,259 Nagarro shares have now been tendered into the Offer, representing approximately 71.94%1 of the share capital and voting rights of Nagarro. Combined with the approximately 22.10%1 stake already secured by Persistent under the share purchase agreement with Lantano Beteiligungen GmbH ("Lantano"), Persistent has secured approximately 94.04%1 of the share capital and voting rights of Nagarro. This result significantly exceeds the minimum acceptance threshold of 50% plus one share required for the Offer to be completed.
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems Limited:
"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."
Following completion of the Offer and acting on a taking private strategy, Persistent, having secured more than 90% of Nagarro's share capital1 and voting rights, plans to initiate a squeeze-out of the remaining minority shareholders of Nagarro upon closing. No final decision has been taken yet. Persistent will provide further details on the specific measures to be taken in due course.
Persistent expects the transaction to close by the end of Q1 CY27, subject to only a limited number of outstanding regulatory approvals.
1. Excluding treasury shares.
MUNICH and PUNE, India, Oct. 9, 2026 -- Galaxy Germany Holding SE (the "Bidder"), a wholly-owned direct subsidiary of Persistent Systems Limited (together "Persistent"), today announced the final results for its Voluntary Public Takeover Offer for all outstanding shares of Nagarro SE ("Nagarro") (the "Offer") following expiry of the statutory additional acceptance period at midnight (CEST) on October 6, 2026.
During the additional acceptance period, a further 1,335,114 Nagarro shares were tendered into the Offer. Together with the 7,568,145 Nagarro shares tendered during the initial acceptance period, a total of 8,903,259 Nagarro shares have now been tendered into the Offer, representing approximately 71.94%1 of the share capital and voting rights of Nagarro. Combined with the approximately 22.10%1 stake already secured by Persistent under the share purchase agreement with Lantano Beteiligungen GmbH ("Lantano"), Persistent has secured approximately 94.04%1 of the share capital and voting rights of Nagarro. This result significantly exceeds the minimum acceptance threshold of 50% plus one share required for the Offer to be completed.
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems Limited:
"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."
Following completion of the Offer and acting on a taking private strategy, Persistent, having secured more than 90% of Nagarro's share capital1 and voting rights, plans to initiate a squeeze-out of the remaining minority shareholders of Nagarro upon closing. No final decision has been taken yet. Persistent will provide further details on the specific measures to be taken in due course.
Persistent expects the transaction to close by the end of Q1 CY27, subject to only a limited number of outstanding regulatory approvals.
1. Excluding treasury shares.
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