Persistent Systems to acquire Nagarro; combined company to generate $2.9 billion in annualised revenue

Indian IT firm Persistent Systems is making a significant move by launching a takeover bid for German digital engineering company Nagarro SE. This potential acquisition, valued at approximately 140% above Nagarro's undisturbed share price, aims to create a global tech powerhouse with nearly $2.9 billion in annual revenue and over 46,000 employees. The deal significantly boosts Persistent's European presence and is backed by Nagarro's major shareholders and management.