Persistent Systems Limited, through its subsidiary Galaxy Germany Holding SE, announced a voluntary public takeover offer for all outstanding Nagarro SE shares at EUR 81 per share in cash, following the signing of a Business Combination Agreement. The all-cash offer represents a premium of ~140% to the undisturbed closing price on June 25, 2026, and ~94% to the three-month volume-weighted average price. Nagarro’s Management and Supervisory Board support the transaction and intend to recommend acceptance. Persistent has secured an approximately 21% stake in Nagarro via a binding agreement with Lantano Beteiligungen GmbH, the largest shareholder, and Nagarro Management Board members have declared their intention to tender their shares. Nagarro, headquartered in Munich, has ~18,500 employees across 40+ countries and total revenue of EUR 1 billion (CY25). The combined Persistent - Nagarro Group would create a ~USD 2.9 billion AI-led engineering powerhouse with 46,000+ employees across 40+ countries. The offer is subject to a minimum acceptance threshold of 50% plus one share, with launch following BaFin approval. Persistent does not intend to enter a domination or profit and loss transfer agreement for two years after closing, and intends to pursue delisting of Nagarro shares from the Frankfurt Stock Exchange.