M&A

M&A

Persistent Systems to acquire German digital engg co. Nagarro for Rs.11.820-Cr

BSE Announcement   Economic Times   The Hindu   Nagarro SE  

Pune-based IT services firm Persistent Systems Ltd. has announced a takeover offer for all outstanding shares in Munich, Germany-based Nagarro SE for a cash consideration of EUR 81 per share, valuing the company at EUR 1.1 Billion (INR 11,820 crore).Persistent Systems has already secured a 21% stake in Nagarro, with support from the firm’s largest shareholder, Lantano Beteiligungen. Both companies' boards have backed the proposal. Persistent plans to pursue a delisting of Nagarro from the Frankfurt Stock Exchange once the transaction is finalized.Nagarro is into digital engineering with 18,500 employees across 40 countries, with deep roots in industrial, consumer, TMT and BFSI verticals and a total revenue of EUR 1 Billion (CY25). The deal will establish a combined entity with an annual revenue run rate of about USD 2.9 Billion and with over 46,000 employees across 40 countries. The integration would help Persistent Systems grow in Europe, from 9% to 22% of the combined entity's total revenue.