Galaxy Germany Holding SE, a wholly-owned direct subsidiary of Persistent Systems Limited, today announced the final results for its Voluntary Public Takeover Offer for all outstanding shares of Nagarro SE following expiry of the statutory additional acceptance period at midnight CEST on October 6, 2026. The Offer has ended successfully with Persistent securing approximately 94.04% of Nagarro share capital, significantly exceeding the minimum acceptance threshold of 50% plus one share.
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% of the share capital and voting rights of Nagarro.
Combined with the approximately 22.10% stake already secured by Persistent under the share purchase agreement with Lantano Beteiligungen GmbH, Persistent has secured approximately 94.04% 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.
The successful takeover marks a major step in Persistent's strategy to build a global AI-led digital engineering player. The combined entity will leverage complementary strengths in Digital Engineering and Enterprise Modernization to serve businesses across industries.
Persistent's taking private strategy will consolidate ownership and enable accelerated integration of AI-led platform-driven services, including software engineering, product development, data and analytics, CX transformation, cloud computing and agentic business automation.
Following completion of the Offer and acting on a taking private strategy, Persistent, having secured more than 90% of Nagarro's share capital 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, positioning the company for next-phase growth in AI-led services.
About Persistent
Persistent Systems is a global services and solutions company delivering AI-led, platform-driven Digital Engineering and Enterprise Modernization to businesses across industries. With over 28,500 employees located in 21 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including software engineering, product development, data and analytics, CX transformation, cloud computing, and agentic business automation. The Company is part of the MSCI India Index and is included in key indices of the National Stock Exchange of India, including the Nifty Midcap 50, Nifty IT, and Nifty MidCap Liquid 15, as well as several on the BSE such as the S&P BSE 100 and S&P BSE SENSEX Next 50. Persistent is also a constituent of the Dow Jones Best-in-Class World Index.
