Persistent Systems is positioning its acquisition of German digital engineering firm Nagarro as a strategic move to significantly expand its industry reach and geographic footprint, according to the company's CFO.
Vinit Teredesai, Executive Director and CFO of Persistent Systems, highlighted the transaction's role in driving sustained growth for the Indian IT services provider.
9 billion. The acquisition represents a substantial shift in scale for Persistent Systems, moving it into a larger tier of global IT services firms.
The deal, which was previously announced by the company, aims to combine the two organizations into a single entity with a projected revenue run-rate of $2.9 billion.
The acquisition represents a substantial shift in scale for Persistent Systems, moving it into a larger tier of global IT services firms.
By integrating Nagarro's capabilities, Persistent Systems seeks to enhance its service offerings and broaden its client base across new markets and industries.
Persistent Systems reported a consolidated net profit of ₹483.04 crore for the June quarter, reflecting a 13.7% year-on-year increase.