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Persistent has signed an agreement to combine with Munich-headquartered Nagarro and has acquired an approximately 21% stake in the company. It has also launched a voluntary public takeover offer for the remaining shares, subject to regulatory approvals and shareholder acceptance.
According to the investor FAQ released by the company, the combined entity would become the world's second-largest digital engineering company by revenue and India's seventh-largest technology services company, with an annualised revenue run rate of more than $2.9 billion. The combined group would employ more than 46,000 people and serve over 350 marquee clients globally.
Persistent said the transaction is expected to be earnings per share (EPS) accretive. On an illustrative pro-forma trailing 12-month basis, the combined business would generate revenue of $2.795 billion, EBITDA of $463 million, EBIT of $337 million and profit after tax of $215 million. Pro-forma EPS is estimated at $1.36 (Rs 127), compared with $1.30 (Rs 121) for Persistent on a standalone basis. The company stressed that these figures are illustrative and not management guidance.
The company said Nagarro is a highly complementary business that strengthens Persistent's presence in Europe while adding complementary industry verticals, AI expertise, and ERP and customer experience capabilities. It said the combination would create a global AI-led digital engineering company and achieve a scale that would have taken years to build organically.
Persistent said the all-cash offer values Nagarro at EUR 81 per share, representing a premium of about 140% to Nagarro's undisturbed closing price on 25 June 2026 and about 94% to its three-month volume-weighted average price.
Nagarro's management board and supervisory board have backed the transaction and intend to recommend that shareholders accept the offer. Persistent has already secured an approximately 21% stake through a binding agreement with Nagarro's largest shareholder.
The acquisition is expected to close by Q4 CY26 or Q1 CY27, subject to German and Indian regulatory approvals and the acceptance of the offer by shareholders holding at least 50% plus one share of all outstanding Nagarro shares. Until then, Persistent and Nagarro will continue to operate as independent companies.
Persistent Systems is a global services and solutions company delivering AI-led, platform-driven digital engineering and enterprise modernization to businesses across industries.
Persistent Systems reported a 20.43% sequential increase in consolidated net profit to Rs 529.26 crore in Q4 FY26, compared with Rs 439.45 crore in Q3 FY26. Revenue from operations increased 7.35% quarter-on-quarter to Rs 4,055.94 crore for the quarter ended 31 March 2026.
On a year-on-year basis, the company’s net profit rose 33.73%, while revenue grew 25.10% in Q4 FY26.
Persistent Systems Ltd, Astral Ltd, Supreme Industries Ltd and Alkyl Amines Chemicals Ltd are among the other losers in the BSE's 'A' group today, 29 June 2026.
Netweb Technologies India Ltd tumbled 10.66% to Rs 4417 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 2.36 lakh shares were traded on the counter so far as against the average daily volumes of 1.88 lakh shares in the past one month.
Persistent Systems Ltd crashed 10.16% to Rs 4348.75. The stock was the second biggest loser in 'A' group.On the BSE, 3.33 lakh shares were traded on the counter so far as against the average daily volumes of 52057 shares in the past one month.
Astral Ltd lost 8.23% to Rs 1364. The stock was the third biggest loser in 'A' group.On the BSE, 1.46 lakh shares were traded on the counter so far as against the average daily volumes of 29362 shares in the past one month.
Supreme Industries Ltd plummeted 6.80% to Rs 3191. The stock was the fourth biggest loser in 'A' group.On the BSE, 2.41 lakh shares were traded on the counter so far as against the average daily volumes of 25216 shares in the past one month.
Alkyl Amines Chemicals Ltd slipped 6.51% to Rs 1672.15. The stock was the fifth biggest loser in 'A' group.On the BSE, 3880 shares were traded on the counter so far as against the average daily volumes of 12576 shares in the past one month.
The board of Persistent Systems at its meeting held on 26 -27 June 2026 has approved the following:
- The establishment of Galaxy Germany Holding SE as a wholly owned subsidiary of the company, by way of acquiring its 100% stake through the local consultant in Germany. The entity currently has no operational business and is acquired to serve as a strategic vehicle for pursuing potential M&A opportunities in the European region.
- The acquisition of the shareholding of Nagarro SE, a listed entity in Germany (target company) from its largest shareholder namely Lantano Beteiligungen GmbH, a German entity (represented by Carl-Georg Dürschmidt).
In line with this objective and as mentioned above, the company has acquired Galaxy Germany Holding SE, as its wholly owned subsidiary in Germany, on 26 June 2026, to serve as a strategic vehicle for pursuing potential M&A opportunities in the European region.
Subsequently, Galaxy Germany Holding SE has entered into a share Purchase Agreement with Lantano Beteiligungen GmbH on 26 June 2026 for the acquisition of 21% shareholding (excluding treasury shares) of Nagarro SE, a listed entity in Germany (target company/ Nagarro) subject to the satisfaction of customary closing conditions and requisite regulatory approvals.
Nagarro is a Munich-headquartered leader in digital engineering with ~18,500 employees across 40+ countries, deep roots in industrial, consumer, TMT and BFSI verticals and a total revenue of EUR 1 billion (CY25).
Persistent – Nagarro Group forms a perfect strategic fit, combining Persistent's AI-led engineering leadership, North American scale and partnership depth with Nagarro's European business, complementary verticals, AI expertise, and ERP and CX delivery, to create a ~USD 2.9 billion AI-led engineering powerhouse with 46,000+ employees across 40+ countries.
- The board also approved providing the corporate guarantee up to EUR 1,540,000,000 to Barclays Bank PLC in favour of Galaxy Germany Holding SE, a wholly owned subsidiary of the Company to secure the bridge financing facility. The bridge financing is proposed to be utilised by Galaxy Germany Holding SE to settle the applications to be received in the voluntary public takeover offer and for the separate sale and purchase of 21% shares (excluding treasury shares) of the target company from Lantano Beteiligungen GmbH and potentially support the target company with refinancing its debt, and other transaction-related requirements and expenses.
Innovana Thinklabs Ltd fell 3.77% today to trade at Rs 320.4. The BSE Information Technology index is down 1.61% to quote at 27109.5. The index is down 1.37 % over last one month. Among the other constituents of the index, Nucleus Software Exports Ltd decreased 3.51% and Persistent Systems Ltd lost 3.34% on the day. The BSE Information Technology index went down 29.16 % over last one year compared to the 10.78% fall in benchmark SENSEX.
Innovana Thinklabs Ltd has lost 14.95% over last one month compared to 1.37% fall in BSE Information Technology index and 1.27% drop in the SENSEX. On the BSE, 40 shares were traded in the counter so far compared with average daily volumes of 2726 shares in the past one month. The stock hit a record high of Rs 648 on 11 Jul 2025. The stock hit a 52-week low of Rs 295 on 09 Jun 2026.
Persistent Systems collaborated on an AI engineering talent initiative with Databricks and the Milwaukee School of Engineering (MSOE) to help strengthen the next generation of enterprise-ready AI talent.
Developed in collaboration with the MSOE AI Club, Persistent anchored a Databricks-powered AI Hackathon to scale AI delivery capabilities through deeper collaboration across academia, technology ecosystems and industry practitioners. The program provided students with the opportunity to work with AI professionals, bridging the gap between academic AI learning and real-world implementation.
Using the Databricks Data Intelligence Platform and supported by the Databricks University Alliance, the initiative gave students hands-on exposure to advanced data and AI engineering environments used in modern analytics, Generative AI and operational AI deployments. It also emphasized on operational scalability, governance, reliability and engineering discipline. Participants worked across the AI lifecycle using technologies including Delta Lake, Unity Catalog, Agent Bricks, and Databricks Workflows, gaining practical experience in scalable AI pipelines, governed data environments, AI orchestration and production-ready AI architectures.
Tata Consultancy Services Ltd lost 4.15% today to trade at Rs 2346.55. The BSE Information Technology index is down 2.36% to quote at 29397.33. The index is up 4.3 % over last one month. Among the other constituents of the index, Persistent Systems Ltd decreased 3.52% and Coforge Ltd lost 3.34% on the day. The BSE Information Technology index went down 19.31 % over last one year compared to the 7.72% fall in benchmark SENSEX.
Tata Consultancy Services Ltd has lost 3.46% over last one month compared to 4.3% gain in BSE Information Technology index and 3.57% drop in the SENSEX. On the BSE, 50371 shares were traded in the counter so far compared with average daily volumes of 2.83 lakh shares in the past one month. The stock hit a record high of Rs 3539.45 on 18 Jun 2025. The stock hit a 52-week low of Rs 2210 on 14 May 2026.
Persistent Systems announced the signing of an agreement to expand its Eastern European presence through the integration of a specialized team of more than 90 professionals from Concise, a Tallinn-headquartered software engineering and IT consulting company. Subject to closing conditions, the transaction will strengthen Persistent's European nearshore delivery network and enhance its ability to help enterprises evolve large-scale digital infrastructure and globally integrated operations.
The establishment of delivery centers in Tallinn and Tartu would expand Persistent's European footprint and strengthen its nearshore delivery model for clients across the region. Estonia's advanced digital ecosystem and deep technology talent base will provide a strong foundation for supporting AI-led transformation requiring governance alignment and stronger regional engagement. The expansion also aims to strengthen Persistent's relationship and depth of expertise with a strategic customer in the enterprise mobility segment in the region.
Persistent Systems and Kong, a leading developer of API and AI connectivity, today announced a strategic partnership to help enterprises implement the control layer required to scale AI securely and reliably. Persistent is uniquely positioned as Kong's global systems integration partner, combining its engineering-led approach with Kong's unified API and AI connectivity platform to simplify integration, strengthen governance and accelerate enterprise AI adoption.
As enterprises move from AI experimentation to production, the challenge is no longer access to models. It is how AI systems are connected, governed and operated at scale. APIs, data pipelines, models and agents are converging into a single operational fabric. Without a unified control layer, this fabric becomes fragmented, difficult to govern and increasingly complex to scale.
This partnership addresses that gap by enabling enterprises to implement Kong's governed, scalable connectivity layer across APIs, data and AI services. Together, Persistent and Kong will enable organizations to modernize legacy API environments, strengthen governance and reduce operational costs, while supporting high-performance workloads seamlessly across hybrid and multi-cloud environments.
The collaboration also enables enterprises to operationalize GenAI and agentic workflows, including Model Context Protocol-based architectures, with built-in security, observability and policy-driven control. This includes policy-driven safeguards such as Personally Identifiable Information (PII) protection, centralized access management and end-to-end observability, ensuring enterprise-grade security and compliance across API and AI interactions.
The partnership advances Persistent's AI-first, platform-driven approach by creating a more predictable path from AI ambition to enterprise-scale execution. By combining Kong's AI Gateway and unified API and AI connectivity platform with Persistent's GenAI Hub and engineering-led delivery, organizations can move beyond isolated use cases toward governed, production-grade AI systems with greater control, lower risk and faster realization of business value.
Persistent Systems Ltd is up for a third straight session in a row. The stock is quoting at Rs 5095.5, up 3.06% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.33% on the day, quoting at 23727.6. The Sensex is at 75577.8, up 0.35%. Persistent Systems Ltd has dropped around 4.31% in last one month.
Meanwhile, Nifty IT index of which Persistent Systems Ltd is a constituent, has dropped around 7.11% in last one month and is currently quoting at 28389.8, up 3.35% on the day. The volume in the stock stood at 6.86 lakh shares today, compared to the daily average of 7.62 lakh shares in last one month.
The benchmark May futures contract for the stock is quoting at Rs 5110, up 3.35% on the day. Persistent Systems Ltd is down 9.77% in last one year as compared to a 3.87% drop in NIFTY and a 21.31% drop in the Nifty IT index.
The PE of the stock is 45.88 based on TTM earnings ending March 26.
IT shares tumbled after advancing in the past trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex declined 791.18 points or 0.99% to 78,492.51. The Nifty 50 index slumped 201.20 points or 0.82% to 24,369.70
In the broader market, the BSE 150 MidCap Index shed 0.01% and the BSE 250 SmallCap Index rose 0.28%.
The market breadth was positive. On the BSE, 2006 shares rose and 1,705 shares fell. A total of 218 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 6.41% to 18.66.
Earnings Today:
SBI Life Insurance Company (down 0.91%), Tech Mahindra(down 3.82%), Trent(down 0.91%), Bharat Coking Coal(down 0.25%), Delta Corp(up 3.63%), Havells India(up 0.02%), L&T Technology Services(down 1.77%), Oracle Financial Services Software(up 1.50%), Sangam India(up 8.51%), and Tata Communications (down 0.03%) will announce their quarterly earnings today.
Buzzing Index:
The Nifty IT index declined 3.30% to 30,681.75. The index jumped 0.45% in the past trading session.
HCL Technologies (down 8.99%), Persistent Systems (down 3.51%), Coforge (down 3.2%), Infosys (down 2.7%), Tech Mahindra (down 2.59%), LTM (down 1.95%), Tata Consultancy Services (down 1.55%), Mphasis (down 1.25%) and Wipro (down 0.32%) declined.
Stocks in Spotlight:
Ajanta Pharma fell 1.31% after the company said the United States Food and Drug Administration (USFDA) has completed an inspection at its Paithan manufacturing facility in Maharashtra, conducted between 13 April and 21 April 2026.
Advait Energy Transitions jumped 4.57% after the company received an order worth Rs 27.74 crore from Power Transmission Corporation of Uttarakhand (PTCUL).
Tata Elxsi declined 4.65%. The company reported a 27.8% increase in net profit to Rs 220.35 crore in Q4 FY26, compared with Rs 172.42 crore posted in Q4 FY25. Revenue from operations increased 9.4% to Rs 993.75 crore in the quarter ended 31 March 2026, compared with Rs 908.34 crore recorded in the corresponding quarter last year.