- Persistent Systems subsidiary Galaxy Germany Holding SE acquired 61.15% more stake in Nagarro SE
- Galaxy Germany Holding SE now holds 83.25% stake in Nagarro SE after the acquisition
- The acquisition was made through a public offer, company informed exchanges on September 22
Persistent Systems subsidiary Galaxy Germany Holding SE has acquired 61.15% more stake in Nagarro SE via public offer. The arm now holds 83.25% stake in Nagarro SE, the company informed the exchanges on Tuesday, September 22.
The technology services firm had already secured a stake of approximately 22.1% in Nagarro under a share purchase agreement with Lantano Beteiligungen. Together, the latest stake and the shares secured from Lantano represent approximately 83.25%1 of the total share capital and voting rights of Nagarro.
After the completion of the offer and taking a private strategy, Persistent intends to delist Nagarro shares from trading on the stock market of the Frankfurt Stock Exchange and trading on the open market of other stock exchanges as soon as practicable and legally feasible.
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Nagarro shareholders who have not yet tendered their shares can accept the offer at the same cash consideration of EUR 81.00 per share by tendering their shares within the additional acceptance period, which will begin on September 23, 2026, and end at midnight on October 6, 2026.
The proposed delisting from the regulated market would result in Nagarro being excluded from the SDAX and a reduction in liquidity of Nagarro shares. "Pursuant to the Business Combination Agreement, Nagarro's Management Board is, subject to its fiduciary duties, willing to support the delisting of the Nagarro shares," the company said.
Speaking on the development, Sandeep Kalra,Chief Executive Officer and Executive Director of Persistent Systems said, “We have offered Nagarro shareholders an attractive opportunity to realize full and immediate value. The success of the offer confirms its appeal and the strategic logic behind combining Persistent and Nagarro."
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