Persistent Systems Shares Slide 7 After 1 14 Billion Offer To Buy Germanys Nagarro
Economic Times
Persistent Systems' shares dropped significantly following its announcement to acquire German digital engineering firm Nagarro for approximately EUR 1.27 billion.
While this move aims to boost European presence and revenue, analysts express concerns about near-term growth and profitability impacts due to the premium acquisition price and Nagarro's weaker financial performance. The deal, financed by a bridge loan, is expected to reduce US market dependence and expand industry verticals.
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