Persistent Systems Limited — Important, 26-06-2025: General Updates

Persistent Systems has announced a board meeting. The company completed the transfer of Starfish Associates LLC’s business (step-down subsidiary) to itself, effective April 1, 2025, for a consideration of USD 2.45 million. Starfish contributed 0.39% to Persistent’s standalone revenue and 0.40% to consolidated revenue in the last fiscal. The transaction is a related party transfer at arm’s length, consolidating the subsidiary’s operations into the parent company without impact on net worth.