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Persistent Systems Ltd. entered into an agreement on March 14, 2022 to acquire MediaAgility, a Google Cloud Premier partner for ~$72 million, at an enterprise value of 2.8 times revenue after twelve months. This follows the acquisition of Data Glove that it announced in February 2022.

Data Glove has capabilities in Azure, Microsoft’s cloud platform. Data Glove was purchased at a valuation of 1.95 times EV/sale. Prior to that, Persistent Systems had acquired Software Corporation International and Shree Partners (acquisition deepens banking, financial services, and insurance capabilities) in September 2021.

In total, Persistent Systems committed $220 million for acquisitions in FY22. The company took a strong interest in building capabilities across five ecosystems – IBM Cloud, Microsoft Azure, Google Cloud, AWS and Salesforce, and in the key verticals of high-tech, BFSI and healthcare.

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This post Persistent Systems – Strengthening Capabilities Through Targeted Mergers, Acquisitions: Nirmal Bang

was original published at “https://www.bloombergquint.com/research-reports/persistent-systems-reinforcing-capabilities-through-focused-mergers-acquisition-nirmal-bang”