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Persistent Systems

From Wikipedia, the free encyclopedia

Persistent Systems
TypePublic
BSE: 533179
NSE: PERSISTENT
IndustryInformation technology
Founded1990; 36 years ago (1990)
FounderAnand Deshpande
HeadquartersPune, Maharashtra, India
Key people
  • Anand Deshpande (Chairman and MD)
  • Sandeep Kalra (CEO)
  • Vinit Teredesai (CFO)[1]
RevenueIncrease ₹14,748 crore (US$1.5 billion) (2026)
Increase ₹2,303 crore (US$240 million) (2026)
Increase ₹1,865 crore (US$190 million) (2026)
Number of employees
23,941 (December 2024)[2]
Websitepersistent.com
Footnotes
Financials as of 31 March 2026.[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

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BERJAYA
Persistent's Pingala-Aryabhata campus in Pune

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

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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]
2026 Nagarro €1.1 billion [17]

References

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  1. ↑ "Persistent Systems appoints former LTIMindtree exec Vinit Teredesai as chief financial officer". Money Control. 16 May 2024. Retrieved 30 June 2024.
  2. ↑ "Persistent Systems Q3 results: Net profit grows 30% YoY to Rs 373 crore, revenue up 23%". Moneycontrol. Retrieved 28 May 2025.
  3. ↑ "Quarterly Results for FY 2025-26 - Fourth Quarter Ended March 31, 2026" (PDF). Persistent Systems. 21 April 2026. Retrieved 30 June 2026.
  4. ↑ "Persistent Systems Ltd". Morningstar, Inc. 19 April 2024. Retrieved 22 April 2024.
  5. ↑ Sonavane, Ravindra N. (3 September 2021). "Persistent's Deshpande joins club of billionaires". mint. Retrieved 22 April 2024.
  6. ↑ "Persistent gets $18.8 million VC funding". Business Standard. Retrieved 22 April 2024.
  7. ↑ "Persistent Systems IPO subscribed 93.3 times". Reuters. 19 March 2010. Archived from the original on 22 October 2019. Retrieved 22 October 2019.
  8. ↑ "Persistent Systems introduces Accelrite to focus on product portfolio". Economic Times. 19 March 2014. Retrieved 4 March 2021.
  9. ↑ "Persistent Systems buys two cloud products from Citrix". ET Telecom. Retrieved 22 October 2019.
  10. ↑ Sangani, Priyanka (17 March 2016). "Persistent Systems launches specialised engineering services for IBM Watson IoT platform". The Economic Times. Retrieved 22 October 2019.
  11. ↑ "Persistent Systems joins Siemens' MindSphere Partner Program for IoT solutions". The Economic Times. 3 May 2019. Retrieved 15 May 2019.
  12. ↑ "Persistent Systems to acquire Swiss firm Parx Werk". VCCircle. Retrieved 22 April 2024.
  13. ↑ "Persistent Systems to acquire SCI, Shree Infosoft for $60 million". Business Standard. Retrieved 22 April 2024.
  14. ↑ "Persistent Systems acquires US-based Data Glove for $90.5 million". Business Standard. Retrieved 22 April 2024.
  15. ↑ "Persistent Systems acquires US-based MediaAgility for nearly $72 million". 14 March 2022.
  16. ↑ "Starfish Associates: Persistent Systems buys US software firm Starfish Associates for Rs 173 crore". The Economic Times. 3 July 2024.
  17. ↑ "Persistent Systems to acquire Nagarro; combined entity to generate $2.9 billion in annualised revenue". The Economic Times. 27 June 2026. ISSN 0013-0389. Retrieved 28 June 2026.
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