Anand Deshpande. Photo credit: Special Arrangement
Galaxy Germany Holding SE, a 100% direct subsidiary of Persistent Systems Ltd. Pune-based company and its parent firm have announced a voluntary public offer to acquire all outstanding shares of Munich-based Nagarro SE for a cash consideration of €81 per share, valuing the company at €1.1 billion (₹11,820 crore).
According to the company, Nagarro is a digital engineering company with 18,500 employees in 40 countries, deep roots in the industrial, consumer, TMT and BFSI verticals, and total revenue of €1 billion (CY25).
The offer follows the signing of a business combination agreement between Persistent and Nagarro. “The proposed combination is intended to create a large-scale, globally diversified center for digital design and artificial intelligence-based enterprise modernization with a significant presence in North America and Europe and a significant presence in the rest of the world,” the company said in a statement.
The combined Persistent – Nagarro team will be better prepared to support multi-regional enterprise customers who require integrated AI, engineering, ERP/CX, data and cloud capabilities across local and global delivery models. The combination will create a $2.9 billion AI-led engineering organization with more than 46,000 employees in more than 40 countries, the company added.
Anand Deshpande, founder, chairman and managing director of Persistent Systems, said: “AI is transforming our industry at an unprecedented pace. Success will belong to companies that combine deep technical capabilities with global reach, while continuing to attract, develop and inspire exceptional people.”
“Together, Persistent and Nagarro can help our clients navigate this new era, create more opportunities for our teams and build an organization that will last for years to come,” he said.
Sandeep Kalra, Managing Director and CEO of Persistent Systems, said, “The next wave of enterprise transformation will be driven by artificial intelligence, engineering prowess and global scale. The combination of Nagarro and Persistent is a defining milestone in our journey to create a global leader in engineering-focused technology services,” he said.
The combination will create an artificial intelligence-led engineering company valued at $2.9 billion and employing more than 46,000 people.
Published – June 27, 2026 10:49 pm EST.