Persistent Systems completes acquisition of 83.25% stake in Nagarro

Persistent Systems secured 7,568,145 shares, representing approximately 61.15% of Nagarro SE's ( Nagarro) outstanding share capital (i.e., excluding treasury shares) by way of a Voluntary Public Takeover Offer (the Offer) during the acceptance period completed as of 17 September 2026. The Company already secured a stake of approximately 22.10% shareholding in Nagarro (excluding treasury shares) under a share purchase agreement with Lantano Beteiligungen GmbH. As a result, the Company secured an aggregate shareholding of 83.25% (excluding treasury shares) as of 17 September 2026, thereby exceeding the minimum threshold requirement, i.e., 50% plus one share, under the Offer.

In view of the aforesaid development, under the prevailing laws an additional acceptance period of two weeks will commence on 23 September 2026, and run until 06 October 2026. During the additional acceptance period, Nagarro's Shareholders, who have not yet tendered their shares may accept the Offer.

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems: ?We have offered Nagarro shareholders an attractive opportunity to realize full and immediate value. The success of the offer confirms its appeal and the strategic logic behind combining Persistent and Nagarro. We now look forward to completing the remaining steps toward closing, so we may start building the global AI-led digital engineering leader we envisioned together.

Following the consummation of the Offer and acting on a taking private strategy, Persistent intends to terminate the admission of Nagarro shares to trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and trading on the open market of other stock exchanges as soon as practicable and legally feasible. The termination of admission to trading on the regulated market would result in Nagarro being excluded from the SDAX and a reduction in liquidity of Nagarro shares. Pursuant to the Business Combination Agreement, Nagarro's Management Board is, subject to its fiduciary duties, willing to support the delisting of the Nagarro shares.