Persistent Systems secures 83.25% stake in Nagarro, extends offer window

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.