Acquisition

NSE & BSE / 2026-27 / 066 June 27, 2026 The Manager The Manager Corporate Services, Corporate Services, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, P J Towers, Dalal Street, Bandra (E), Mumbai 400 051 Mumbai 400 001 Ref: Symbol: PERSISTENT Ref: Scrip Code: 533179 Dear Sir/Madam, Sub: Outcome of the Board Meeting held Friday, June 26, 2026 (IST) and concluded on Saturday, June 27, 2026 (IST) In terms of Regulation 30 and any other applicable regulations, if any of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of Persistent Systems Limited, (the ‘Company’) at its meeting commenced on Friday, June 26, 2026 at 1115 Hrs. IST and concluded on Saturday, June 27, 2026 at 0213 Hrs. IST has inter-alia discussed and taken the following decisions: 1. Establishment of M/s. Galaxy Germany Holding SE as a wholly owned subsidiary of the Company, by way of acquiring its 100% stake through the local consultant in Germany The Company has established M/s. Galaxy Germany Holding SE as a wholly owned subsidiary of the Company (‘BidCo’), by way of acquiring its 100% stake through the local consultant in Germany and executed the Share Purchase Agreement on June 26, 2026 at 1130 Hrs. CET / 1500 Hrs. IST. The requisite details as per SEBI Circular bearing ref. no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 (‘SEBI Circulars’) are as follows: No. Items of Disclosure Description 1. Name of the target entity, details in brief such Name: Galaxy Germany Holding SE as size, turnover, etc.; Country of Incorporation: Germany Share capital: EUR 120,000 Turnover: Not Applicable 2. Whether the acquisition would fall within It is not a related party transaction and the related party transactions and whether the Promoters/Promoter Group of Persistent promoter/ promoter group/ group companies group entities do not have any interest in the have any interest in the entity being acquired. said transaction. If yes, the nature of interest and details thereof and whether the same is done at ‘arm’s length’; 3. Industry to which the entity being acquired The entity currently has no operational belongs; business and is acquired to serve as a strategic vehicle for pursuing potential M&A opportunities in the European region. Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLC056696 Tel: +91 (20) 670 35555 | Fax - +91 (20) 6703 6003 | E-mail - info@persistent.com | Website - www.persistent.com Page 1 of 9 No. Items of Disclosure Description 4. Objects and impact of acquisition (including The Company is acquired to expand our but not limited to, disclosure of reasons for technology services footprint in the Europe acquisition of target entity, if its business is region by way of acquisition of other outside the main line of business of the listed companies. entity); 5. Brief details of any governmental or Not Applicable regulatory approvals required for the acquisition; 6. Indicative time period for completion of the Immediate upon signing the Share Purchase acquisition; Agreement (SPA) 7. Nature of consideration – whether cash Cash Consideration consideration or share swap or any other form and details of the same; 8. Cost of acquisition and/or the price at which EUR 135,000 (Euro One Hundred and shares are acquired; Thirty-five Thousand) 9. Percentage of shareholding/control acquired Upon acquisition, 100% shareholding of the and/or number of shares acquired; Galaxy Germany Holding SE (BidCo), is held by Persistent Systems Limited, India (the ‘Company’) resulting in the BidCo becoming a wholly owned subsidiary of the Company. 10. Brief background about the entity acquired in BidCo was newly incorporated in December terms of products/line of business acquired, 2025, and is headquartered in Munich, date of incorporation, history of last 3 years Germany. Since its incorporation, BidCo has turnover, country in which acquired entity has had no operational business. presence, and any other significant information (in brief) 2. Acquisition of the shareholding of Nagarro SE, a listed entity in Germany (‘Target Company’) from its largest shareholder namely Lantano Beteiligungen GmbH, a German entity (represented by Mr. Carl-Georg Dürschmidt) Persistent aims to strengthen its European footprint, enhancing scale, and advancing a more diversified global IT services platform. The Company identified a prospective opportunity in Germany to further scale and strengthen its presence in the region. In line with this objective and as mentioned above, the Company has acquired Galaxy Germany Holding SE (the ‘BidCo’), as its wholly owned subsidiary in Germany, on June 26, 2026, to serve as a strategic vehicle for pursuing potential M&A opportunities in the European region. Subsequently, the Company through BidCo has entered into a Share Purchase Agreement with Lantano Beteiligungen GmbH, a German entity (represented by Mr. Carl-Georg Dürschmidt) on June 26, 2026 at 1200 Hrs. CET / 1530 Hrs. IST, for the acquisition of 21% shareholding (excluding treasury shares) of Nagarro SE, a listed entity in Germany (the ‘Target Company’/ ‘Nagarro’) subject to the satisfaction of customary closing conditions and requisite regulatory approvals. Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLC056696 Tel: +91 (20) 670 35555 | Fax - +91 (20) 6703 6003 | E-mail - info@persistent.com | Website - www.persistent.com Page 2 of 9 The requisite details in accordance with the SEBI Circulars are as follows: No. Items of Disclosure Description 1. Name of the target entity, details in The Company through BidCo has entered into a Share brief such as size, turnover, etc.; Purchase Agreement with Lantano Beteiligungen GmbH, a German entity (represented by Mr. Carl-Georg Dürschmidt) on June 26, 2026, to acquire 21% shareholding (excluding treasury shares) held in Nagarro SE, a listed entity in Germany (‘Target Company’). This transaction is subject to customary closing conditions and requisite regulatory approvals. 2. Whether the acquisition would fall It is not a related party transaction. within related party transactions and whether the promoter/ promoter The Promoters and Promoter Group of Persistent group/ group companies have any group entities do not have any interest in the said interest in the entity being acquired. transaction. If yes, the nature of interest and details thereof and whether the Further, the said acquisition is done at arm’s length same is done at ‘arm’s length’; basis. 3. Industry to which the entity being I T services and IT enabled services acquired belongs; 4. Objects and impact of acquisition Nagarro is a Munich-headquartered leader in digital (including but not limited to, engineering with ~18,500 employees across 40+ disclosure of reasons for acquisition countries, deep roots in industrial, consumer, TMT of target entity, if its business is and BFSI verticals and a total revenue of EUR 1 billion outside the main line of business of (CY25). the listed entity); Persistent – Nagarro Group forms a perfect strategic fit, combining Persistent’s AI-led engineering leadership, North American scale and partnership depth with Nagarro’s European business, complementary verticals, AI expertise, and ERP and CX delivery, to create a ~USD 2.9 billion AI-led engineering powerhouse with 46,000+ employees across 40+ countries. 5. Brief details of any governmental or The execution and ultimate consummation of the deal regulatory approvals required for the is subject to various factors including receipt of acquisition; necessary approvals by the Government/ Semi Government/ Regulatory/ Statutory/ Local authorities (such as Overseas Investment authority, Competition [Showing first 8,000 characters — download PDF for full document]