Persistent Systems discloses strategic acquisitions
Multinational technology services company Persistent Systems announced three strategic acquisitions that include Software Corporation International (SCI), its affiliate Fusion360, and Shree Partners with its India subsidiary Shree Infosoft.
The India-based tech giant will be acquiring 100% of stakes in both companies with cash payments of US$53 million for SCI and US$6.87 million for Shree.
Persistent said that payment systems provider SCI would serve as the foundation for the firm’s new dedicated payments business unit with the help of Fusion360’s expertise in cloud-based product design and manufacturing.
Meanwhile, the acquisition of Shree Partners will help expand Persistent’s digital transformation and technology solutions to offer better service to clients.
Persistent Systems CEO and Executive Director Sandeep Kalra said that the company’s “rapid acceleration of the digital transformation of their financial services clients” requires domain expertise in areas like payments and regulatory compliance.
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