Persistent Systems Q1 FY16 revenue crosses INR 5 billion
Pune, India and Santa Clara, US – July 25, 2015
Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company’s audited financial results for the first quarter ended June 30, 2015, as approved by the Board of Directors.
“This was an important quarter for the company as we’ve seen our strategy for digital, based on data, interfaces and apps being widely embraced. Our focus on the how of digital and our offerings that include the template for digital transformation, established partnerships with market leaders and our ability to deliver through our IP with automation is helping us win new larger enterprise accounts. This quarter we signed one of our largest deals and it was digital,” said Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems.
“We continue to strengthen our product portfolio under our Accelerite brand. We continue to play a strategic role for our product engineering customers and we expect to see good traction with customers as they develop their next generation products. We see an exciting roadmap for technology, and with our investments in IP, partnerships with market leaders coupled with the investments made in training our teams, we are confident of the future growth prospects of the Company,” he added.
Among the 49 new customers the company added across geographies and industries, digital adoption is accelerating and some of them are:
· One of India’s largest Media Houses selected Persistent Systems to immediately transform its operating model to digital media.
· Selected by a large global bank to provide transformation to agile methodology.
· Chosen by a diversified global manufacturing and technology company to develop best practices for its design team and Cost Improvement Initiatives.
Acquisitions and Investments:
· Entered into an agreement to acquire Aepona Holdings Limited and its subsidiaries to extend our telecom services and allow Accelerite to expand into the growing field of the Internet of Things.
· Acquired RGen Solutions, strengthening the company’s Microsoft Technology Stack expertise. Based in Redmond, Wash., RGen is a privately held consulting and IT Company with deep expertise in Microsoft technologies and a strong presence in the Microsoft ecosystem that will expand Persistent’s reach into large enterprises.
· Acquired Convirture, a unified management provider for virtualization and cloud environments. Persistent’ product arm Accelerite will offer enterprises and service providers the freedom to choose and deploy any combination of hypervisors and cloud platforms.
· Invested in Jocata Corporation, USA (‘Jocata’) under Persistent Ventures. Jocata is an innovative products and services firm specializing in big data, particularly regarding Know Your Customer (“KYC”), Anti-Money Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) compliance for financial services industry clients.
· Invested in US-based OpsDataStore Inc. The company has an innovative solution which enables organizations to manage all their IT operations data in one easily accessible real time data store.
Recognition and Awards:
· For the second year in a row Persistent Systems wins India’s most prestigious coding competition, claiming the title of India’s Coding Power House at Code Gladiators, amongst 121 companies with more than 80,000 coders competing.
About Persistent Systems:
Persistent Systems (BSE & NSE: PERSISTENT) builds software that drives the business of our customers; enterprises and software product companies with software at the core of their digital transformation.