Persistent Systems to acquire two cloud products from Citrix Systems
Pune-based Persistent Systems Ltd, through its US subsidiary, has signed an agreement to acquire Citrix Systems' CloudPlatform and CloudPortal Business Manager product lines for an undisclosed amount.
The agreement is with Citrix Systems International GMBH, a Swiss subsidiary of Citrix Systems, to buy the cloud products in an asset purchase transaction, the company said in a stock market disclosure.
"These products will add to the portfolio of products of Accelerite, the products business of Persistent Systems," the statement said.
The closing of the transaction is subject to customary closing conditions and is expected to happen in the fourth quarter of the current fiscal.
Founded in 1990 by IIT Kharagpur alumnus Anand Deshpande, Persistent develops software solutions in next-generation technology areas, including analytics, Big Data, cloud computing, mobility and social, for the telecommunications, banking and financial services, life sciences and healthcare verticals.
With more than 7,000 employees, the company has offices and delivery centres across North America, Europe and Asia Pacific. In India, it has offices in Bangalore, Nagpur, Goa and Hyderabad.
Last year, Persistent had made two acquisitions. In July, it acquired Ireland-based technology firm Aepona Holdings Ltd for an undisclosed amount and in November, the company had agreed to purchase the assets and hire the employees of US-based software company Akumina Inc's content management services business.
Founded in 1989, Citrix Systems provides virtualisation, mobility management, networking and SaaS solutions to businesses.