Persistent Systems targets $5 billion revenue by March 2031 with $1.3 billion Nagarro acquisition

Persistent Systems said it will acquire German digital engineering firm Nagarro for $1.3 billion, with the deal expected to close by March 2027. The company said the combined business would have revenue of $2.9 billion after the transaction. It is targeting $5 billion in revenue by 2031. Persistent highlighted synergies in SAP implementation and OpenAI engineering deployment, and said it plans to repay a $1.6 billion short-term loan through cost synergies and cash generation without diluting equity for now.