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Informist, Monday, Jun. 1, 2026

NEW DELHI – Persistent Systems Ltd. has signed an agreement to integrate a specialised team of over 90 professionals from software engineering and information technology consulting firm Concise Systems OU, the former said in an exchange filing Monday. "Subject to closing conditions, the transaction will strengthen Persistent's European nearshore delivery network and enhance its ability to help enterprises evolve large-scale digital infrastructure and globally integrated operations," it added.

The team brings experience supporting large-scale digital environments across mobility, logistics, smart infrastructure, and payments, the filing said.

This comes after last week's intimation regarding Persistent System acquiring a part of Concise Systems' business for 5.6 million euros (or INR 620.14 million), including a deferred payment of 1.5 million euros over two years. The business being acquired includes purchased assets, assumed liabilities along with select employees and contractors, it had said. The annual revenue from this business is estimated at 11.6 million euros.

The acquisition of the business will help in consolidating the relationship with a strategic customer and expand the nearshore delivery presence in Eastern Europe, Persistent Systems had said in last week's filing to the exchanges. "Persistent is the primary service provider to the customer and the business is already structured as a sub-con arrangement through Persistent. The acquisition is being done to de-risk the long term delivery to the customer as well as to open other avenues of partnership between the customer and Persistent."

For the March quarter, the company had reported consolidated net profit of INR 5.29 billion on revenues of INR 40.56 billion. At 1339 IST, shares of the company traded over 5% higher at INR 5,456 on the National Stock Exchange.   End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Shakshi Jain

Edited by Akul Nishant Akhoury

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