Indian IT services firm Persistent Systems has made a €1.05 billion offer to acquire German software developer Nagarro, marking a significant consolidation move in the European digital engineering sector.
The bid, reported by Handelsblatt, targets the Munich-headquartered company and represents a strategic push by the Pune-based firm to expand its footprint in Western Europe.
The proposed transaction would merge two major players in the digital transformation space, creating a combined entity with an estimated revenue run-rate of $2.
Persistent Systems has reportedly engaged with more than 20 stakeholders in the early stages of the process, signaling serious intent behind the valuation.
The proposed transaction would merge two major players in the digital transformation space, creating a combined entity with an estimated revenue run-rate of $2.9 billion.
This scale would position the new group as a formidable competitor in the global IT services market, particularly in sectors requiring complex digital engineering and software development capabilities.
The deal underscores the growing appetite of Indian IT majors for acquiring specialized European firms to bolster their high-end service offerings.