Nagarro successfully completes its post-spin-off re-organization
Nagarro, a leader in digital engineering, has successfully completed its merger with Nagarro Holding GmbH, following its spin-off from Allgeier SE in December 2020. This merger, approved on August 31, 2021, streamlines the organization and eliminates minority interests below Nagarro SE. A 19% capital increase was executed to issue new shares to former minority shareholders. Co-founder Vikram Sehgal expressed optimism about future growth and improved alignment between management and investor goals.
- Successful completion of merger simplifying organizational structure.
- Elimination of significant minority interests enhances governance.
- 19% capital increase to issue shares to former minority shareholders.
- Co-founders hold a significant stake, aligning management with shareholder interests.
- None.
MUNICH, Oct. 26, 2021 /PRNewswire/ -- Nagarro, a global leader in digital engineering and technology solutions, has successfully completed the merger of Nagarro Holding GmbH and Nagarro SE. The merger concludes the reorganization of the company related to the spin-off from Allgeier SE in December 2020.
On March 26, 2021, Nagarro reported that it was entering into negotiations with the participants of the management participation program at the level of the operational management company Nagarro Holding GmbH regarding the dissolution of this program and the subsequent full integration of Nagarro Holding GmbH into Nagarro SE by way of merger with the issuance of new shares in Nagarro SE to the members of the program. On August 31, 2021, Nagarro's general meeting approved the merger and a related capital increase in Nagarro SE.
Now, the successful completion of the merger delivers a simplified and streamlined organizational structure, as no significant minority interests remain below the Nagarro SE level. In order to grant new shares to the former minority shareholders of Nagarro Holding GmbH, a capital increase of 19 % has been carried out. The various co-founders and members of the senior management together hold a significant stake in Nagarro's total share capital.
"We are very happy, and relieved that we have now completed the reorganization following our spin-off from Allgeier SE last year. With the simplified structure and better alignment of management incentives with investor goals, we look forward to taking Nagarro into the next orbit of growth and relevance," said Vikram Sehgal, co-founder.
For more information, visit www.nagarro.com
For inquiries, please contact press@nagarro.com
About Us
Nagarro, a global digital engineering leader, helps clients become innovative, digital-first companies and thus, win in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and its approach of thinking breakthroughs. Nagarro employs over 10,000 people in 26 countries. For more information, visit www.nagarro.com.
FRA: NA9 (SDAX, ISIN DE000A3H2200, WKN A3H220)
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SOURCE Nagarro
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