Persistent bids to buy German company Nagarro for $1.3 billion

BENGALURU: In one of the largest cross-border acquisitions by an Indian IT services company, Persistent Systems has launched an all-cash bid to acquire Germany’s Nagarro for about $1.3 billion, reports Shilpa Phadnis. This transaction could create a $2.9-billion digital engineering and AI powerhouse with more than 46,000 employees.

Persistent has offered €81 a share for Nagarro, representing a 140% premium to the stock’s closing price on June 25 and a 94% premium to its 3-month volume-weighted average price. The transaction is expected to close by March 2027, after which the combined entity will operate as Persistent-Nagarro Group.