Persistent Systems Limited Expands European Footprint with Acquisition of Galaxy Germany Holding SE and Shareholding in Nagarro

Persistent Systems Limited Expands European Footprint with Acquisition of Galaxy Germany Holding SE and Shareholding in Nagarro​

Persistent Systems Limited (PSL) has taken significant steps to strengthen its global presence, initiating a strategy focused on scaling its technology services footprint in Europe through strategic acquisitions. The Company established M/s. Galaxy Germany Holding SE as a wholly owned subsidiary by acquiring a 100% stake via a local consultant in Germany.

The acquisition of Galaxy Germany Holding SE, referred to internally as 'BidCo,' was executed via a Share Purchase Agreement on June 26, 2026. The target entity, Galaxy Germany Holding SE, holds no operational business but is intended to serve as a strategic vehicle for pursuing potential M&A opportunities in the European region.

Initial Acquisition of Nagarro Stake​

PSL subsequently used BidCo to enter into a Share Purchase Agreement on June 26, 2026, acquiring a 21% shareholding (excluding treasury shares) of Nagarro SE from Lantano Beteiligungen GmbH, a German entity. This move aims to enhance PSL's European scale and diversify its global IT services platform.

Nagarro SE, headquartered in Munich, is identified as a leader in digital engineering and is involved in the IT services and IT enabled services industry. The acquisition combines Persistent’s AI-led engineering leadership and North American market scale with Nagarro’s European business expertise and complementary verticals.

Key details regarding the initial transaction are summarized below:


Nagarro, which was officially incorporated in Germany on January 28, 2020, operates across Industrials, Consumer, TMT, and BFSI verticals. Its operational history includes:

• CY 2025 Revenue: EUR 999.3 Million
• CY 2024 Revenue: EUR 972.0 Million
• CY 2023 Revenue: EUR 912.1 Million

Nagarro employs approximately 18,500 people across more than 40 countries.

Proposal for Full Acquisition of Nagarro SE​

As a next phase in its strategic expansion, the Board of Directors has approved the proposed acquisition of 100% of the outstanding share capital of Nagarro SE through BidCo by way of a Voluntary Public Takeover Offer (VPO). A Business Combination Agreement (BCA) has been signed by the companies regarding the terms and conditions.

The Company believes that this combination will establish a global client and delivery platform, leveraging Nagarro’s deep AI and digital engineering expertise and strong European client relationships. The combined entity is projected to have scaled presence across multiple verticals.

Financing and Corporate Guarantee for Expansion​

To support these transactions, the Board of Directors authorized BidCo to secure financing from Barclays Bank PLC (an Investment Banker engaged by PSL). Persistent Systems Limited committed to providing a corporate guarantee to Barclays in favour of BidCo.

The terms of this financial arrangement are as follows:


The acquisition of Nagarro SE was noted as being conducted on an arm’s length basis, with both transactions falling outside related party categories according to PSL's disclosures.

PERSISTENT Stock Price Movement​

Shares of Persistent Systems Limited on Thursday slipped by 1.66% to settle at ₹4841.5, following a negative change of ₹82.00. The stock traded with a volume of 383,578 shares during the session.