Galaxy Germany Holding SE, a wholly owned direct subsidiary of Pune-based Persistent Systems Ltd., and its parent firm have announced a voluntary public takeover offer for all outstanding shares in Munich-based Nagarro SE for a cash consideration of €81 per share, valuing the company at €1.1 billion (₹11,820 crore).

Nagarro is into digital engineering with 18,500 employees across 40 countries, with deep roots in industrial, consumer, TMT and BFSI verticals and a total revenue of €1 billion (CY25), according to a company release.

The offer follows the signing of a Business Combination Agreement between Persistent and Nagarro. “The proposed combination is designed to create a scaled, globally diversified AI-led digital engineering and enterprise modernisation powerhouse with at-scale presence in North America and Europe and a meaningful Rest of the World exposure,” the company said in the release.

The combined Persistent – Nagarro group would be better positioned to support multi-region enterprise clients requiring 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 entity with over 46,000 employees across more than 40 countries, it added.

Anand Deshpande, Founder, Chairman and Managing Director, Persistent Systems said, “AI is reshaping our industry at an unprecedented pace. Success will belong to companies that combine deep technical capability with global reach, while continuing to attract, develop and inspire exceptional people.”

“Together, Persistent and Nagarro will be better positioned to help our clients navigate this new era, create greater opportunities for our teams, and build an organisation that will endure for many years to come,” he said.

Sandeep Kalra, Executive Director and Chief Executive Officer, Persistent Systems said, “The next wave of enterprise transformation will be defined by AI, engineering excellence, and global scale. Bringing Nagarro and Persistent together is a defining milestone in our journey to build a global, engineering-led technology services leader,” he said.

The combination will create a $2.9 bn AI-led engineering entity with over 46,000 employees