History

_x000D_ Persistent Systems Limited is a trusted partner for digital engineering and enterprise modernisation. They work with software companies and enterprises to provide technical expertise and industry experience, helping clients gain a competitive edge. The company supports its partners throughout the product lifecycle, using proprietary techniques and services to accelerate time-to-market._x000D_ _x000D_ Initially incorporated as Persistent Systems Private Limited in 1990, the company became a public limited company in 2007. Focusing on telecommunications, life sciences, and infrastructure, they invested in cloud computing, analytics, enterprise collaboration, and enterprise mobility. _x000D_ _x000D_ During 2003-04, Persistent Systems expanded globally, opening branch offices in the UK, Japan, the Netherlands, and Singapore. In 2005-06, they acquired Control Net (India) Private Limited and CloudSquads Inc., enhancing their social community deployment and integration capabilities. In 2010, the company was listed on the BSE and NSE with an IPO of ₹168.01 crore._x000D_ _x000D_ During FY 2014, the company established branch offices in Germany and South Africa and a subsidiary in Malaysia to diversify geographically. In 2015, they conducted a bonus issue, allotting 40 million equity shares to shareholders._x000D_ _x000D_ In 2015 and 2016, Persistent Systems acquired IoT platform assets from Intel and CloudPlatform assets from Citrix, expanding their offerings. They were recognised as the 'Appian Regional Partner of the Year' in 2016, emphasising speed and innovation in digital transformation._x000D_ _x000D_ During FY 2018, the company continued its growth through strategic collaborations, including a partnership with Salesforce and the acquisition of 'PARX,' a Salesforce consulting company. In 2022, they acquired Data Glove, a Microsoft Cloud Modernization Services Partner._x000D_ _x000D_ In 2023, Persistent Systems launched GenAI-led offerings for software engineering, legacy modernisation, digital assistants, and vertical-specific solutions. They established a task force to develop proof-of-concept solutions, gaining early access to Generative AI tools from major partners._x000D_ _x000D_ Persistent Systems Inc., the company's wholly-owned subsidiary, formed a subsidiary in Poland in April 2023. In January 2023, they inaugurated the Ramanujan Learning and Development facility in Pune, showcasing their commitment to continuous improvement._x000D_

Business Segments 

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1. Digital Strategy and Design: Partner with Persistent to create a digital strategy and design that aligns with your business goals and industry transformation.
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2. Software Product Engineering: Persistent Systems specialises in developing and maintaining software systems and solutions for various industries, including banking, financial services, insurance, healthcare, life sciences, industrial, software, telecom, and media.
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3. CX Transformation: The company assists clients in delivering world-class customer experiences, particularly in the banking, financial services, and insurance sectors.
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4. Cloud and Infrastructure: Persistent Systems provides cloud and infrastructure services to help organisations optimise operations and drive business growth.
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5. Intelligent Automation: The company offers intelligent automation solutions to streamline processes and improve operational efficiency.
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6. Open Source Hub: The company provides solutions and services related to open-source technologies, contributing to the development and implementation of open-source software
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7. Enterprise IT Security: Persistent Systems provides services to ensure the security of enterprise information technology systems.
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8. Data and Analytics: The company offers data and analytics services to help businesses derive insights and make informed decisions.
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9. Enterprise Applications and Integration Services: Persistent Systems provides services to help businesses integrate and optimise enterprise applications.
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_x000D_ Subsidiaries of Persistent Systems Limited_x000D_ _x000D_ As of March 2023, Persistent Systems Limited has 29 subsidiaries worldwide. Some of the key subsidiaries are:_x000D_

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1. MediaAgility Inc.: MediaAgility is a leading cloud-based customer experience (CX) management solution provider. It helps businesses automate and optimise customer interactions across various channels, including social media, email, and chat. 
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2. Accelerite: Accelerite is a value-added reseller and integrator of cloud-based solutions, specialising in Salesforce. It helps businesses implement, customise, and manage Salesforce solutions to drive sales, marketing, and customer service success. 
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3. Shree Infosoft Pvt. Ltd.: Shree Infosoft provides IT infrastructure and IT-enabled services (ITES) to businesses in India. It is a wholly-owned subsidiary of Persistent Systems. 
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Key Personnel

_x000D_ Dr. Anand Deshpande, Chairman and Managing Director_x000D_ _x000D_ Dr. Anand Deshpande has been the Founder, Chairman, and Managing Director of Persistent Systems since the beginning, leading the company's overall direction. Anand was pivotal in steering Persistent Systems from its inception in 1990 to its current status as a globally traded company. Before starting Persistent Systems, Anand initiated his career at Hewlett-Packard Laboratories in Palo Alto, California, working as a member of Technical Staff from May 1989 to October 1990. Beyond his role at Persistent Systems, Anand is actively involved in various professional and non-profit organisations. _x000D_

Corporate Actions 

_x000D_ Bonus_x000D_ _x000D_ Persistent Systems Limited issued a 1:1 bonus on March 10, 2015, with a record date of March 11, 2015.