Debasis Mohapatra
Bengauru, 28 June 2026
Mid-tier IT services firm, Persistent Systems has secured a large deal worth over $650M from a global technology company headquartered in the United States.
The deal, spanning six and a half years, is expected to expand the company’s presence across North America, Europe, and Asia Pacific while strengthening its business capabilities through end-to-end cloud service operations.
Under the terms of the engagement, Persistent Systems will leverage its domain expertise and advanced AI-driven platforms to deliver customized solutions for enterprise software and cloud services. The agreement encompasses product development, SRE-led operations, production support, and ongoing operational management of a portfolio of enterprise software products. This arrangement is expected to facilitate the adoption of emerging technologies and enhance value creation for the client, the company said in an exchange fiing.
The Pune-headquartered firm on Saturday it had signed a business combination agreement with Nagarro SE and will launch a voluntary public takeover offer valuing the Munich-based digital engineering firm, Nagarro SE.
The company through its wholly owned unit Galaxy Germany Holding SE, will offer EUR 81 in cash for each Nagarro share, representing a premium of about 140 per cent to Nagarro’s closing price on 25 June and around 94% to its three-month volume-weighted average price, the companies said in a joint statement.
If the acquisition materialises, it will create a $2.9 billion entity with strong presence in engineering services segment.
