India: IT services firm Persistent Systems to buy US-based Akumina content management biz

Visuals taken from Akumina website

Persistent Systems Ltd, through its US-based arm Persistent Systems Inc, signed an agreement with Akumina Inc, to acquire the assets and hire the employees of its content management services business, according to a stock market disclosure.

The deal is subject to customary closing conditions and the deal amount was not disclosed.

Akumina manufactures InterChange, a software platform built using SharePoint-as-a-Service which allows businesses to develop and deploy web content management solutions on Microsoft technologies.

The company was incorporated in 2011 and counts clients like Walmart, Dolby, Tandem Diabetes and Lesley University.

Persistent Systems, a global company specialising in software product and technology services, was founded in 1990. It provides services like research, usability engineering, prototyping, development, testing and quality assurance, porting, documentation, training, sales support, product deployment, technical support, maintenance, and performance engineering.

Having its offices and delivery centres across North America, Europe, Asia Pacific and India, the company employs over 7,000 people.

This is the second acquisition by Persistent Systems this year. In July, the firm had acquired Irish tech firm Aepona from Intel for an undisclosed amount.

Persistent Systems’ scrip last changed hands at Rs 655.20 each, up 0.05 percent on BSE in a weak Mumbai market on Tuesday.

Also read: Sydney, San Fransico-based software company Atlassian, last valued at $3.3b, files for IPO
Australian software firm Atlassian leaving Vietnam’s ‘blooming outsourcing industry’
Software giant Microsoft launches $13b bond as high-grade hits record
Indian IT services player Sonata Software buys US-based IBIS for $14m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.