Persistent Systems is reportedly planning to raise up to $450 million through a qualified institutional placement (QIP). The funds would help finance its acquisition of German technology firm Nagarro, announced in June 2026. The deal is valued at approximately $1.45 billion.
The fundraising is also part of a plan to replace a €1.4 billion bridge loan with more stable, long-term financing. Shareholders have approved a mix of debt and equity funding.
Persistent Systems aims to complete the acquisition by late 2026 or early 2027. The deal is expected to create a stronger company in AI-focused digital engineering.