Persistent Systems secures 94% stake in Nagarro, plans squeeze-out of minority shareholders

Persistent Systems said that it has secured 94.04% of the share capital and voting rights of Nagarro SE. The figure comes after the additional acceptance period for its voluntary public takeover offer ended on October 6. The company plans to squeeze out the remaining minority shareholders once the deal closes.

Persistent-Nagarro takeover crosses 90% threshold

The offer was made through Galaxy Germany Holding SE, a wholly owned direct subsidiary of Persistent. It covered all outstanding shares of Nagarro. The minimum acceptance threshold was 50% plus one share.