Persistent Systems shareholders have overwhelmingly approved the proposed acquisition of Nagarro SE. This strategic move, made through its subsidiary Galaxy Germany Holding SE, aims to create a scaled, globally diversified AI-led digital engineering and enterprise modernization leader. The transaction is expected to enhance capabilities in North America and Europe, positioning the combined entity for greater client support.
Shareholder Approval Secured for Nagarro Acquisition
Persistent Systems Limited has announced that its shareholders have officially approved the proposed acquisition of Nagarro SE during the Company’s Annual General Meeting held on August 3, 2026. The approval paves the way for Persistent’s subsidiary, Galaxy Germany Holding SE, to proceed with the acquisition, along with associated financing arrangements and a corporate guarantee.
Strategic Rationale and Future Outlook
The transaction is a significant step towards creating a formidable global player in AI-led digital engineering and enterprise modernization. The combination of Persistent and Nagarro is anticipated to result in a scaled, diversified powerhouse with a strong presence in North America and Europe, as well as broader global market exposure. This strategic alignment is expected to bolster the combined group’s ability to serve multi-region enterprise clients with integrated AI, engineering, ERP/CX, data, and cloud capabilities.
CEO’s Confidence
Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent Systems, expressed gratitude for the strong shareholder support. He stated, “We are grateful for the strong support and confidence our shareholders have shown through this vote. Persistent and Nagarro will build one of the world’s leading Al-led digital engineering companies. Our complementary strengths make the strategic case clear, and we are glad our shareholders share our conviction.”
Next Steps
The formal Offer Document, detailing the full terms and conditions of the cash offer, will be published following its approval by the German Federal Financial Supervisory Authority (“Bafin”). Nagarro shareholders and interested parties are encouraged to visit http://www.galaxy-offer.com for further information and documentation as it becomes available.
Disclaimer
This press release is not an offer to purchase or a solicitation of an offer to sell Nagarro shares. The final terms of the Offer will be communicated in the offer document after approval by the German Federal Financial Supervisory Authority. Investors and holders of Nagarro shares are advised to read the offer document and other related documents once they are made public, as they will contain important information.
Source: BSE
