Nagarro shares seen nearly doubling after Persistent's bid

Persistent Systems

29/06/2026 07:19

** Nagarro NA9n.DE shares are up around 90% in early Frankfurt trading after Indian IT services firm Persistent PERS.NS offered to buy the German company at €81 per share, in a deal announced late Friday
** The offer represents a "nice" 100% premium to Nagarro's closing price of €40.44 on Xetra, the electronic trading platform of the Frankfurt Stock Exchange, a local trader says
** The offer values the digital engineering company at €1 billion ($1.14 billion), according to Reuters calculations
** Nagarro said in a statement that its boards support the offer and that its founding shareholder has agreed to sell its roughly 20% stake at the offer price
** Persistent shares fall 10% at 0615 GMT
($1 = 0.8783 euros)

(Reporting by Danny Callaghan)
((danny.callaghan@thomsonreuters.com))