Persistent Systems Limited — JV/Acquisition, 13-02-2025: Acquisition

Persistent Systems has entered an Asset Purchase Agreement with SoHo Dragon LT, UAB, to acquire select assets for a total consideration of $2.01 million. This includes an upfront payment of $1.07 million, with additional earnouts and retention payments. The acquisition is set to enhance Persistent's position in the BFSI sector by consolidating relationships with a key customer, bringing in estimated annual revenues of $1.65 million from the acquired assets. Completion is anticipated within 4-8 weeks, pending customary closing conditions.