Persistent Systems
{{Short description|India-headquartered technology company}}
{{Use dmy dates|date=September 2016}}
{{Use Indian English|date=September 2016}}
{{Infobox company
| name = Persistent Systems
| logo = Persistent_Systems_Logo.svg
| type = Public
| traded_as = {{BSE|533179}}
{{NSE|PERSISTENT}}
| industry = Information technology
| foundation = {{start date and age|1990}}
| hq_location = Pune, Maharashtra, India
| founder = Anand Deshpande
| key_people = {{Unbulleted list|Anand Deshpande (Chairman and MD)|Sandeep Kalra (CEO)|Vinit Teredesai (CFO){{Cite web|url=https://www.moneycontrol.com/technology/persistent-systems-appoints-former-ltimindtree-exec-vinit-teredesai-as-chief-financial-officer-article-12723535.html|title=Persistent Systems appoints former LTIMindtree exec Vinit Teredesai as chief financial officer|website=Money Control|date=16 May 2024|language=en-US|access-date=30 June 2024}}}}
| revenue = {{Increase}} {{INRConvert|11938|c}} (2025)
| operating_income = {{Increase}} {{INRConvert|1822|c}} (2025)
| net_income = {{up}} {{INRConvert|1400|c}} (2025)
| num_employees = 23,941 (December 2024){{cite news |title=Persistent Systems Q3 results: Net profit grows 30% YoY to Rs 373 crore, revenue up 23% |url=https://www.moneycontrol.com/news/business/earnings/persistent-systems-q3-results-net-profit-grows-30-yoy-to-rs-373-crore-revenue-up-23-12917140.html |access-date=28 May 2025 |work=Moneycontrol}}
| website = {{URL|persistent.com}}
| footnotes = Financials {{as of|2025|03|31|lc=y|df=yes}}.{{cite news |title=Quarterly Results for FY 2024-25 - Fourth Quarter Ended March 31, 2025 |url=https://www.persistent.com/wp-content/uploads/2025/04/press-release-q4fy25.pdf |access-date=2 May 2025 |work=Persistent Systems |date=24 April 2025 |language=en}}
}}
Persistent Systems is an Indian multinational technology services company based in Pune. It is primarily engaged in cloud computing, internet of things, endpoint security, big data analytics and software product engineering services.{{cite web |title=Persistent Systems Ltd |url=https://www.morningstar.com/stocks/xnse/persistent/quote |website=Morningstar, Inc. |access-date=22 April 2024 |language=en |date=19 April 2024}}
History
File:PSPL-Erandwane-Pune.jpg]]
Persistent Systems was founded in 1990 by Anand Deshpande, a former Hewlett-Packard employee, with an investment of $21,000. In 2000, Intel Capital invested $1 million in the company for a 3.5% stake.{{cite news |last1=Sonavane |first1=Ravindra N. |title=Persistent's Deshpande joins club of billionaires |url=https://www.livemint.com/companies/people/persistent-systems-cmd-anand-deshpande-turns-billionaire-11630639832997.html |access-date=22 April 2024 |work=mint |date=3 September 2021 |language=en}} In 2005, Persistent raised $18.8 million from Norwest Venture Partners and Gabriel Venture Partners.{{cite news |title=Persistent gets $18.8 million VC funding |url=https://www.business-standard.com/article/technology/persistent-gets-18-8-million-vc-funding-105120801100_1.html |access-date=22 April 2024 |work=Business Standard}}
Persistent Systems was listed on the National Stock Exchange of India and Bombay Stock Exchange in March 2010 after its initial public offering.{{Cite news|url=https://in.reuters.com/article/idINIndia-47067220100319|archive-url=https://web.archive.org/web/20191022104106/https://in.reuters.com/article/idINIndia-47067220100319|url-status=dead|archive-date=22 October 2019|title=Persistent Systems IPO subscribed 93.3 times|date=2010-03-19|work=Reuters|access-date=2019-10-22|language=en}}
In February 2011, Persistent took over the operations of Nagpur-based Infospectrum India.{{Cite web |date=3 February 2011 |title=Persistent takes over Infospectrum |url=https://timesofindia.indiatimes.com/city/nagpur/Persistent-takes-over-Infospectrum/articleshow/7415127.cms |access-date=2019-10-22 |website=The Times of India |language=en}} In 2012, Persistent Systems acquired Openwave's location business.{{Cite news |date=2012-02-03 |title=Persistent buys Openwave's location biz |work=Business Standard India |url=https://www.business-standard.com/article/companies/persistent-buys-openwave-s-location-biz-112020300082_1.html |access-date=2019-10-22}}
In 2015, Persistent Systems completed the acquisition of the digital content management solutions business of US-based Akumina.{{Cite news |last=Reporter |first=B. S. |date=2015-11-17 |title=Persistent Systems to acquire CMS business of US-based Akumina |work=Business Standard India |url=https://www.business-standard.com/article/companies/persistent-systems-to-acquire-us-based-akumina-115111700733_1.html |access-date=2021-03-04}} In 2016, Persistent product arm Accelerite purchased Citrix's products CloudPlatform (based on Apache CloudStack) and CloudPortal Business Manager.{{Cite web |title=Persistent Systems buys two cloud products from Citrix |url=http://telecom.economictimes.indiatimes.com/news/persistent-systems-buys-two-cloud-products-from-citrix/50544683 |access-date=2019-10-22 |website=ET Telecom |language=en}} In 2016, Persistent acquired PRM Cloud Solutions, a Salesforce consulting partner.{{cite news |last1=Sangani |first1=Priyanka |date=15 March 2016 |title=Persistent Systems acquires Australia's PRM Cloud Solutions |newspaper=The Economic Times |url=http://www.ETtech.com/Citetent-systems-acquires-australias-prm-cloud-solutions/51407075 |access-date=2016-03-18}} In 2016, Persistent Systems launched a specialized engineering service for IBM Watson IoT platform.{{Cite news |last=Sangani |first=Priyanka |date=2016-03-17 |title=Persistent Systems launches specialised engineering services for IBM Watson IoT platform |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/internet/persistent-systems-launches-specialised-engineering-services-for-ibm-watson-iot-platform/articleshow/51431109.cms |access-date=2019-10-22}}
In 2017, Persistent Systems acquired a Swiss company called Parx Werk.{{cite news |title=Persistent Systems to acquire Swiss firm Parx Werk |url=https://www.vccircle.com/persistent-systems-to-acquire-swiss-firm-parx-werk |access-date=22 April 2024 |work=VCCircle}} In 2019, Persistent joined Siemens' MindSphere partner program to deliver industrial internet of things (IIoT) services.{{Cite news |date=3 May 2019 |title=Persistent Systems joins Siemens' MindSphere Partner Program for IoT solutions |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/internet/persistent-systems-joins-siemens-mindsphere-partner-program-for-iot-solutions/articleshow/69157093.cms |access-date=15 May 2019}} In 2019, Persistent Systems acquired Youperience, a Salesforce implementation company.{{cite news |title=Persistent Systems to acquire Youperience GmbH for up to 6.8 million euros |url=https://economictimes.indiatimes.com/tech/ites/persistent-systems-to-acquire-youperience-gmbh-for-up-to-6-8-million-euros/articleshow/69948947.cms |access-date=22 April 2024 |work=The Economic Times |date=25 June 2019}} In 2020, the company acquired US-based enterprise software firm Capiot Software.{{cite news |title=Persistent Systems to acquire US enterprise software firm Capiot |url=https://www.vccircle.com/persistent-systems-to-acquire-us-enterprise-software-firm-capiot |access-date=22 April 2024 |work=VCCircle}}
In 2021, Persistent Systems acquired certain assets of Sureline Systems, a cloud migration company.{{cite news |last1=Baruah |first1=Ayushman |title=Persistent Systems to acquire Sureline Systems for $2.5 million |url=https://www.livemint.com/companies/news/persistent-systems-to-acquire-sureline-systems-for-2-5-million-11621591476083.html |access-date=22 April 2024 |work=mint |date=21 May 2021 |language=en}} In 2021, Persistent acquired Software Corporation International (SCI) and its affiliate company Fusion360 for $53 million.{{cite news |title=Persistent Systems to acquire SCI, Shree Infosoft for $60 million |url=https://www.business-standard.com/article/companies/persistent-systems-to-acquire-sci-shree-infosoft-for-60-million-121092901076_1.html |access-date=22 April 2024 |work=Business Standard}} It also announced the acquisition of Shree Partners, a New Jersey–based IT and cloud management company.
In February 2022, Persistent acquired the American consulting firm Data Glove for $90.5 million.{{cite news |title=Persistent Systems acquires US-based Data Glove for $90.5 million |url=https://www.business-standard.com/article/companies/persistent-systems-acquires-us-based-data-glove-for-90-5-million-122021000644_1.html |access-date=22 April 2024 |work=Business Standard}} In March 2022, it acquired the American cloud computing services company MediaAgility for $71.71 million.{{cite web |date=14 March 2022 |title=Persistent Systems acquires US-based MediaAgility for nearly $72 million |url=https://www.livemint.com/companies/news/persistent-systems-acquires-us-based-mediaagility-for-nearly-72-million-11647272170890.html}}{{cite web |date=15 March 2022 |title=Persistent acquiring MediaAgility for $ 71.71 million |url=https://www.financialexpress.com/industry/persistent-acquiring-mediaagility-for-71-71-million/2461069/}}
In 2024, Persistent acquired Starfish Associates, developer of an enterprise communications automation platform, for $20 million.{{cite news |title=Persistent Systems buys US software firm Starfish Associates for Rs 173 crore |url=https://economictimes.indiatimes.com/tech/information-tech/persistent-systems-buys-us-software-firm-starfish-associates-for-rs-173-crore/articleshow/111453849.cms |access-date=16 July 2024 |work=The Economic Times |date=3 July 2024}}
On Sept 30, 2024, Persistent Systems declared its intention to acquire Arrka, a Pune-based data privacy management firm for a consideration of Rs 14.4 crore.{{Cite news |date=2024-09-30 |title=Persistent Systems acquires Pune-based data privacy management firm Arrka |url=https://economictimes.indiatimes.com/tech/information-tech/persistent-systems-acquires-pune-based-data-privacy-management-firm-arrka/articleshow/113819695.cms?from=mdr |access-date=2024-10-07 |work=The Economic Times |issn=0013-0389}}
Activities
The company organizes an annual hackathon called Semicolons for its employees.{{Cite web|url=https://digitalgoa.com/persistent-systems-employees-code-for-a-cause/|title=Persistent Systems Employees Code for a Cause|website=Digital Goa|date= 16 May 2016|language=en-US|access-date=2019-10-22}} The company also organizes IBM's Call for Code hackathon at its Goa, Nagpur and Pune offices.{{Cite news|url=https://economictimes.indiatimes.com/tech/software/persistent-systems-to-host-12-hour-hackathon-under-ibms-call-for-code-initiative/articleshow/65461894.cms|title=Persistent Systems to host 12-hour hackathon under IBM's Call for Code initiative|date=2018-08-19|work=The Economic Times|access-date=2019-10-22}}
References
{{reflist|30em}}
External links
- {{Official website|https://www.persistent.com}}
{{Authority control}}
Category:Software companies of India
Category:Indian companies established in 1990
Category:Companies based in Pune
Category:Technology companies of India
Category:Software companies established in 1990
Category:Technology companies established in 1990
Category:1990 establishments in Maharashtra
Category:Companies listed on the National Stock Exchange of India