Persistent Systems has crossed the halfway mark in its bid to take over German IT firm Nagarro SE. The Pune-headquartered company said on Monday that it now holds 83.25% of Nagarro’s outstanding share capital, well above the minimum threshold needed to complete its voluntary public takeover offer, as per a regulatory filing.
Persistent Systems Nagarro stake
The acceptance period for the offer closed at midnight Central European Summer Time on September 17. During that window, shareholders tendered 7,568,145 Nagarro shares. This works out to about 61.15% of the company’s total share capital and voting rights, excluding treasury shares.
Persistent already held a separate stake before this. It had secured approximately 22.10% of Nagarro through a share purchase agreement with Lantano Beteiligungen GmbH. Adding the two together takes the company’s aggregate holding to 83.25%.
The offer required Persistent to cross 50% plus one share for it to go through. That threshold has now been cleared by a wide margin.
Nagarro shareholders to get additional acceptance period
Nagarro shareholders who did not tender their shares in the first round still have a chance. Under German takeover law, an additional acceptance period of two weeks will run from September 23 to October 6, 2026.
Shareholders who accept during this window will receive the same cash consideration as those who tendered earlier, which is 81 euros per share. Persistent said it will disclose the final tender numbers once this second window closes.
Nagarro delisting and deal timeline
Persistent has indicated it intends to delist Nagarro from the regulated market of the Frankfurt Stock Exchange, known as the Prime Standard, once the deal is legally allowed to proceed. A delisting would take Nagarro out of the SDAX index and is expected to reduce liquidity in its shares.
Nagarro’s management board has agreed, subject to its fiduciary duties, to support the delisting process, according to the terms of the Business Combination Agreement between the two companies.
Persistent expects the transaction to close by the end of the first quarter of calendar year 2027, pending a limited number of remaining regulatory approvals.
“We have offered Nagarro shareholders an attractive opportunity to realise 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,” Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems, said.
About Persistent Systems
Persistent Systems is a global services and solutions company focused on AI-led, platform-driven digital engineering and enterprise modernisation. The company employs over 28,500 people across 21 countries and offers services spanning software engineering, product development, data and analytics, CX transformation, cloud computing and agentic business automation.
Persistent Systems share price today
Persistent Systems’ share price has declined 1.62% as of intraday on September 23. The company’s share price has declined 7.27% in the past month. Persistent Systems’ share price has increased 0.75% in the last year.