Galaxy Germany Holding SE, a wholly owned direct subsidiary of Persistent Systems Limited (Persistent) announced a voluntary public takeover offer for all outstanding shares in Nagarro SE (Nagarro) at a cash consideration of EUR 81 per share. The offer price leads to a valuation of Nagarro SE of around EUR 1 billion. Persistent also published that it has entered into a share purchase agreement with Lantano Management GmbH (Lantano), the investment vehicle of the founding shareholder of Nagarro, under which Lantano has agreed to sell its entire approximately 21% stake in Nagarro at the offer price. The share purchase agreement is subject to customary regulatory approvals.
NAGARRO is a Munich-headquartered leader in digital engineering with approx. 18,500 employees across 40+ countries, roots in industrial, consumer, TMT and BFSI and a total revenue of EUR 1 billion (as of Calendar Year 2025).
Persistent, listed on the MSCI India Index, is a global services and solutions company delivering AI-led, platform-driven Digital Engineering and Enterprise Modernization to businesses across industries, with over 27,500 employees located in 21 countries.
The following team of Gleiss Lutz lawyers advised Lantano on takeover law issues and other aspects in connection with the transaction: Dr. Christian Cascante (partner, Frankfurt/Stuttgart, lead), Dr. Jochen Tyrolt (partner), Dr. Adrian Bingel (partner) (all Corporate/M&A), Dr. Johannes Hertfelder (partner, Competition/Antitrust, all Stuttgart), Dr. Jacob von Andreae (partner, Foreign Trade Law, Düsseldorf).
Gleiss Lutz has extensive expertise in public takeovers and is regularly involved in important transactions (both friendly and hostile) – whether representing the buyer, the management board or supervisory board of the target, or investment banks. In the last years it advised, inter alia, in connection with the following public takeovers: Frasers Group ./. HUGO BOSS; UniCredit S.p.A. ./. Commerzbank AG; Worthington Steel ./. Klöckner & Co SE; ADNOC ./. COVESTRO; Telefónica S.A. ./. Telefónica Deutschland Holding AG; Silver Lake ./. Software AG; Cinven ./. SYNLAB AG Vitesco ./. Schaeffler; Burda Digital SE ./. New Work SE and Südzucker AG ./. CropEnergies
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