Persistent Systems
Persistent Systems Limited is an Indian multinational technology company based in Pune. Founded in 1990, it provides information technology and software engineering services.
 | |
| Company type | Public |
|---|---|
| BSE: 533179 NSE: PERSISTENT | |
| Industry | Information technology |
| Founded | 1990 |
| Founder | Anand Deshpande |
| Headquarters | Pune, Maharashtra, India |
Key people | |
| Revenue |  ₹11,938 crore (US$1.4 billion) (2025) |
| ₹1,822 crore (US$220 million) (2025) | |
| ₹1,400 crore (US$170 million) (2025) | |
Number of employees | 23,941 (December 2024)[2] |
| Website | persistent.com |
| Footnotes / references Financials as of 31 March 2025[update].[3] | |
Persistent Systems Limited is an Indian multinational technology company based in Pune. Founded in 1990, it provides information technology and software engineering services.[4]
History
[edit]
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.[5] In 2005, Persistent raised $18.8 million from Norwest Venture Partners and Gabriel Venture Partners.[6]
Persistent Systems was listed on the National Stock Exchange of India and Bombay Stock Exchange in March 2010 after its initial public offering.[7]
In 2014, Persistent Systems incorporated Accelerite, a wholly owned subsidiary based in Silicon Valley, as its software products arm.[8][9] In 2016, Persistent Systems launched a specialized engineering service for IBM Watson IoT platform.[10] In 2019, Persistent joined Siemens' MindSphere partner program to deliver industrial internet of things (IIoT) services.[11]
Notable acquisitions
[edit]| Year | Company | Price | Ref. |
|---|---|---|---|
| 2017 | Parx Werk | CHF16 million | [12] |
| 2021 | Software Corporation International | US$53 million | [13] |
| 2022 | Data Glove | US$90.5 million | [14] |
| 2022 | MediaAgility | US$71.71 million | [15] |
| 2024 | Starfish Associates | US$20.7 million | [16] |
References
[edit]- ^ "Persistent Systems appoints former LTIMindtree exec Vinit Teredesai as chief financial officer". Money Control. 16 May 2024. Retrieved 30 June 2024.
- ^ "Persistent Systems Q3 results: Net profit grows 30% YoY to Rs 373 crore, revenue up 23%". Moneycontrol. Retrieved 28 May 2025.
- ^ "Quarterly Results for FY 2024-25 - Fourth Quarter Ended March 31, 2025" (PDF). Persistent Systems. 24 April 2025. Retrieved 2 May 2025.
- ^ "Persistent Systems Ltd". Morningstar, Inc. 19 April 2024. Retrieved 22 April 2024.
- ^ Sonavane, Ravindra N. (3 September 2021). "Persistent's Deshpande joins club of billionaires". mint. Retrieved 22 April 2024.
- ^ "Persistent gets $18.8 million VC funding". Business Standard. Retrieved 22 April 2024.
- ^ "Persistent Systems IPO subscribed 93.3 times". Reuters. 19 March 2010. Archived from the original on 22 October 2019. Retrieved 22 October 2019.
- ^ "Persistent Systems introduces Accelrite to focus on product portfolio". Economic Times. 19 March 2014. Retrieved 4 March 2021.
- ^ "Persistent Systems buys two cloud products from Citrix". ET Telecom. Retrieved 22 October 2019.
- ^ Sangani, Priyanka (17 March 2016). "Persistent Systems launches specialised engineering services for IBM Watson IoT platform". The Economic Times. Retrieved 22 October 2019.
- ^ "Persistent Systems joins Siemens' MindSphere Partner Program for IoT solutions". The Economic Times. 3 May 2019. Retrieved 15 May 2019.
- ^ "Persistent Systems to acquire Swiss firm Parx Werk". VCCircle. Retrieved 22 April 2024.
- ^ "Persistent Systems to acquire SCI, Shree Infosoft for $60 million". Business Standard. Retrieved 22 April 2024.
- ^ "Persistent Systems acquires US-based Data Glove for $90.5 million". Business Standard. Retrieved 22 April 2024.
- ^ "Persistent Systems acquires US-based MediaAgility for nearly $72 million". 14 March 2022.
- ^ "Starfish Associates: Persistent Systems buys US software firm Starfish Associates for Rs 173 crore". The Economic Times. 3 July 2024.
