Persistent Systems has inaugurated its third facility in Hyderabad at Phoenix Equinox in Gachibowli. The expansion strengthens the company's ability to deliver programs in AI deployment, payments modernization, cloud platforms and operational resilience for banking, financial services and insurance (BFSI) clients.

New facility marks expanded Hyderabad presence

The opening of the third facility in Hyderabad represents a continued commitment by Persistent Systems to build out its regional infrastructure. Hyderabad has emerged as a key hub for the company's technology operations, and the new facility is positioned to support growing demand for AI-driven and modernization-focused services. Persistent has more than 3,000 employees in Hyderabad, with existing offices at WaveRock and Sattva Knowledge City.

Focus on AI and modernization services

The facility provides secure, dedicated workspaces for program delivery and areas for Persistent and client teams to collaborate on AI deployment and systems modernization. It builds on the Company's Financial Services expertise and digital engineering capabilities to support clients working on critical technology programs within regulated environments. The Hyderabad expansion adds to Persistent Systems' existing presence in the city, reinforcing its strategy of deepening operations in major technology centers.

Strategic significance of the expansion

The addition of a third facility in Hyderabad underlines the company's intent to scale its workforce and service capacity in one of India's prominent technology corridors. The move is expected to support Persistent Systems' broader objective of enhancing its AI and digital transformation service offerings for clients. Barath Narayanan, Global BFSI and Europe Geo Head at Persistent, noted that executing these programs requires domain understanding and engineering expertise, with security and operational continuity central to the work.

Persistent Systems Limited has secured an aggregate shareholding of approximately 94.04% in Nagarro SE as of October 6, 2026, following the completion of the additional acceptance period for its voluntary public takeover offer.

The IT services firm acquired an additional 1,335,114 shares, representing approximately 10.79% of Nagarro's outstanding share capital during the additional acceptance period that ran from September 23, 2026, to October 6, 2026. This latest acquisition builds upon earlier acquisitions made during the primary acceptance phase and through a separate share purchase agreement. With this holding, Persistent Systems is positioned to initiate the squeeze-out of remaining minority shareholders, subject to regulatory requirements.

Stake accumulation breakdown

The company’s path to majority control involved three distinct phases of acquisition. The table below details the contribution of each phase to the final aggregate holding:

Note: Percentages are calculated excluding treasury shares.

Offer status and conditions

Despite securing a near-total stake, the transaction is not yet fully settled. The offer remains subject to the fulfilment of certain outstanding conditions specified in the original offer document. Consequently, the settlement of shares tendered by shareholders during both the primary and additional acceptance periods will be executed only after these conditions are met.

This development follows earlier intimations provided by Persistent Systems on August 6, September 18, and September 22, 2026, which outlined the progress of the voluntary public takeover offer.

Closing timeline and strategic intent

Persistent Systems expects the transaction to close by the end of Q1 CY27, subject to only a limited number of outstanding regulatory approvals. The company stated that having secured more than 90% of Nagarro's share capital and voting rights, it plans a squeeze-out of the remaining minority shareholders upon closing. However, no final decision on the specific measures has been taken yet.

Sandeep Kalra, Chief Executive Officer and Executive Director at Persistent Systems, described the final results as a clear endorsement of the strategic logic behind bringing the two companies together. He noted that the combined entity aims to build a global AI-led digital engineering player.

What the numbers show

The final tendered count of 8,903,259 shares represents approximately 71.94% of Nagarro's share capital. When combined with the 22.10% stake acquired via the share purchase agreement with Lantano Beteiligungen GmbH, the total reaches 94.04%. This aggregate holding significantly exceeds the minimum acceptance threshold of 50% plus one share required for the offer's completion, removing the primary conditionality related to shareholder participation.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE262H01021/4abc5a74-3bee-4f06-ac6a-fa36eb6f8503.pdf