TT&A advised Barclays Bank Plc as the arranger (“Arranger”) in relation to the bridge facility up to EUR 1.4 billion to be availed by an offshore subsidiary (“Borrower”) of Persistent Systems Limited (“Persistent”) for the acquisition of Nagarro SE, a German listed company.

The financing will be supported by, among others, a guarantee from Persistent, a company listed in India.

The transaction values Frankfurt-listed digital engineering and technology services company Nagarro SE at approximately EUR1.27 billion enterprise value and represents one of the largest overseas acquisitions by an Indian IT services company.

TT&A Team: Rahul Gulati & Nidhi Rani – Partners; Riya Shah & Rohan Mitra – Senior Associates