Persistent Systems to acquire CAPIOT; stock plunges 6 per cent

Persistent Systems announced on Thursday that it has entered into an agreement to acquire Palo Alto, California-based CAPIOT, including its subsidiaries in Australia, India, and Singapore.

Founded in 2014, the target company specialises in enterprise integration with valuable expertise in MuleSoft, Red Hat, and TIBCO. In addition, CAPIOT delivers enterprise modernisation, leading with advanced proficiency in key partner platforms, frameworks, and industry data models.

The acquisition will enable Persistent Systems to strengthen its ability to implement API-led integrations using specialists in the leading integration platforms coupled with frameworks and industry-specific common data models designed to accelerate business outcomes. Additionally, it will help in providing enterprise integration strategy and advisory services to guide clients with their integration strategy, platform choice, and roadmap to meet business goals.  

Speaking on the development, Sandeep Kalra, Executive Director & President of Persistent Systems said that CAPIOT’s strong history in enterprise integration will provide its clients with an immediate benefit and would help the company solidify its sales force ecosystem capabilities.

On Thursday, the stock of Persistent Systems closed at Rs 1,286.55 per share, down by 6.01 per cent or Rs 82.25 per share on BSE, against a 2.61 per cent decline in the benchmark index. The 52-week high is recorded at Rs 1,389.95 and the 52-week low is Rs 420 on BSE.