Persistent Systems Limited has signed a Business Combination Agreement (BCA) with Nagarro SE, marking a significant step toward creating a global technology services company focused on AI-led digital engineering and enterprise modernisation. The proposed transaction includes a voluntary public takeover offer through Galaxy Germany Holding SE, a wholly owned subsidiary of Persistent, for all outstanding shares of Nagarro at a cash offer price of EUR 81 per share.
The transaction has received the support of Nagarro’s Management and Supervisory Boards, which intend to recommend that shareholders accept the offer following their review of the formal offer document. Persistent has also entered into a binding agreement with Lantano Beteiligungen GmbH, Nagarro’s largest shareholder, to acquire its approximately 21 percent stake, subject to customary regulatory approvals. Members of Nagarro’s Management Board have also expressed their intention to tender their shares into the offer.
The combination is expected to create a technology powerhouse with an annual revenue run rate of approximately USD 2.9 billion, supported by more than 46,000 employees across over 40 countries. The enlarged organisation will significantly strengthen its presence in North America and Europe while expanding its global delivery capabilities across India and other international markets.
The combined business will offer clients an integrated portfolio spanning artificial intelligence, digital engineering, enterprise resource planning (ERP), customer experience (CX), cloud services, data analytics and enterprise transformation. The broader capabilities are expected to help multinational enterprises accelerate large-scale digital transformation programmes through a single global partner.
Persistent Founder, Chairman and Managing Director Dr. Anand Deshpande said the partnership is built on shared engineering values, entrepreneurial culture and long-term client relationships. He noted that combining the strengths of both organisations would position the company to address the rapidly growing demand for AI-driven business transformation while creating greater opportunities for employees and customers.
Persistent Chief Executive Officer Sandeep Kalra described the agreement as a defining milestone that strengthens the company’s geographic reach, expands its engineering capabilities and enhances its ability to deliver AI-enabled solutions at global scale.
Nagarro Co-Founder and Chief Executive Officer Manas Human said the merger would combine complementary strengths in artificial intelligence, digital engineering and enterprise technology, enabling the organisation to undertake increasingly complex transformation programmes for clients worldwide.
The combined company will serve more than 350 major enterprise customers, including leading global banks, healthcare companies and automotive manufacturers. Persistent expects the transaction to strengthen its position across key industry sectors while significantly expanding its addressable market.
The acquisition will be financed through committed funding from Barclays and remains subject to regulatory approvals and customary closing conditions. Upon completion, the Persistent–Nagarro Group will continue to build on the established strengths and market recognition of both brands while advancing its vision of becoming a global leader in AI-led digital engineering and enterprise transformation.
