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