Persistent Systems Limited (PSL) has acquired outsourced product development (OPD) business of Infospectrum Inc and its Indian unit - Infospectrum India Private Limited. Persistent Systems Limited noted the investment will contribute to the Company’s strategic thrust by providing better customer foothold in domains identified by them as their growth areas.
This acquisition enhances Persistent Systems Limited’s presence in the European markets and provides access to verticals like aerospace and defense, complex manufacturing, maritime, transportation and logistics, satellite imaging and geographic information systems. Persistent Systems hopes this acquisition will augment its delivery organization in Nagpur for leveraging its growth plans.
With this acquisition, the Company’s Nagpur development center will be 800+ people strong with the Company on-boarding approximately 200 experienced software professionals from Infospectrum, India.
Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems, noted that the investment marks a significant move, as Infospectrum is already a well-established player in the market. Infospectrum has customers in different geographies and domains which are complementary to Persistent and would be good growth drivers for Persistent, said Deshpande.
Dr. Deshpande further added that with Persistent’s focus areas –cloud computing, collaboration, analytics and mobility, the firm will be able to provide larger value and growth to Info spectrum’s customers and employees. According to Deshpande, Persistent is focused on growing its centers in smaller locations and believes that this acquisition allows it to scale its business in Nagpur.
Jayant (Jay) Chopde, CEO of Infospectrum’s India operation, said he expects the investment to enable the firm provide better, faster and efficient services to its existing and potential set of customers. As part of the integration of the two businesses, Mr. Jayant (Jay) Chopde, the present CEO of Infospectrum India will join Persistent Systems operations along with Mr. Nitin Nistane, COO and Mr. Anand Aurangabadkar, CFO of Infospectrum India.
Jay will augment the sales efforts while Nitin and Anand would be part of the operations and support functions respectively. The closing of the transaction is subject to customary approvals and satisfaction of other customary conditions. The transaction is expected to close during this financial quarter.
Infospectrum is a global software product development and technology services enterprise that specializes in serving complex manufacturing, asset-and service-oriented industries including aerospace & defense, complex manufacturing, maritime and transportation logistics, telecommunications, satellite imaging and geographic information system (GIS) industry verticals as well as the independent software vendors (ISVs) that serve them.
3 Feb 2011.