Persistent Systems has launched a voluntary public takeover offer to acquire all outstanding shares of German digital engineering company Nagarro SE, marking one of the largest overseas acquisitions by an Indian IT services company.
The transaction, if completed, will create a technology services company with an annual revenue run rate of nearly $2.9 billion and a workforce of more than 46,000 employees across over 40 countries, significantly expanding Persistent’s global scale and European presence.
The combined entity will employ over 37,000 people in India, more than 3,500 in North America, and over 3,000 in Europe.
(This is a developing story)
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