Persistent Systems Limited — JV/Acquisition, 06-01-2025: Acquisition

Persistent Systems Limited has entered into an Asset Purchase Agreement to acquire select assets from Soho Dragon Solutions India Private Limited for a total consideration of $5.94 million. This includes an upfront payment of $3.19 million, with potential earnouts of up to $2.48 million over three years based on performance. The annual revenue from these assets is projected at $4.9 million. This strategic acquisition aims to strengthen Persistent's relationships with key BFSI customers and is expected to close within 4 to 8 weeks, following customary conditions.