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
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
External links
References
- 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 Persistent Systems, 24 April 2025, retrieved 2 May 2025^
- Persistent Systems Ltd Morningstar, Inc., 19 April 2024, retrieved 22 April 2024^
- Ravindra N. Sonavane. Persistent's Deshpande joins club of billionaires mint, 3 September 2021, 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, 2010-03-19, retrieved 2019-10-22^
- Persistent Systems introduces Accelrite to focus on product portfolio Economic Times, 2014-03-19, retrieved 2021-03-04^
- Persistent Systems buys two cloud products from Citrix ET Telecom, retrieved 2019-10-22^
- Priyanka Sangani. Persistent Systems launches specialised engineering services for IBM Watson IoT platform The Economic Times, 2016-03-17, retrieved 2019-10-22^
- 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^