Date: September 22, 2026
Takeover Update
Persistent Systems Limited secured 7,568,145 shares of Nagarro SE, representing approximately 61.15% of Nagarro's outstanding share capital (excluding treasury shares) through a Voluntary Public Takeover Offer. The acceptance period for this offer was completed on September 17, 2026.
This acquisition is in addition to the approximately 22.10% stake in Nagarro (excluding treasury shares) that Persistent previously secured through a share purchase agreement with Lantano Beteiligungen GmbH.
The combined shareholding now totals approximately 83.25% of Nagarro's outstanding share capital (excluding treasury shares), significantly exceeding the minimum threshold requirement of 50% plus one share under the Offer terms.
Additional Acceptance Period
An additional acceptance period of two weeks will commence on September 23, 2026, and run until October 6, 2026, as required under prevailing laws. During this period, Nagarro shareholders who have not yet tendered their shares may accept the Offer at the same consideration of EUR 81.00 per share in cash.
Strategic Intent and Timeline
Persistent intends to pursue a delisting of Nagarro shares from the regulated market (Prime Standard) of the Frankfurt Stock Exchange as soon as practicable and legally feasible. This delisting would result in Nagarro being excluded from the SDAX index and reduce liquidity of Nagarro shares.
The transaction is expected to close by the end of Q1 CY27 (first quarter of calendar year 2027), subject to a limited number of outstanding regulatory approvals.
Management Commentary
Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent Systems Limited, stated: \"We have offered Nagarro shareholders an attractive opportunity to realize full and immediate value. The success of the offer confirms its appeal and the strategic logic behind combining Persistent and Nagarro. 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.\"
Regulatory and Legal Context
The Offer is being implemented under the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz - WpÜG) and certain US securities law provisions relating to cross-border takeover offers. The offer document was authorized for publication by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht).
Forward-looking Statements
The announcement contains forward-looking statements identified by words such as \"intend\" and \"will\" regarding the delisting process and transaction timeline. These statements are subject to risks and uncertainties beyond Persistent's control.
Company Reference
Persistent Systems Limited is listed on both BSE (533179) and NSE (PERSISTENT) and is included in several indices including MSCI India Index, Nifty Midcap 50, Nifty IT, and S&P BSE 100.