Persistent Systems to acquire Youperience GmbH

Persistent Systems informed the bourses that its subsidiary Persistent Systems Germany GmbH has entered into a share purchase agreement to acquire 100 per cent stake in the capital of Youperience GmbH for cash consideration of 6.8 million euros.

The acquisition is subject to customary closing conditions which are expected to be completed within two weeks.

Youperience GmbH (Youperience) is a Salesforce Gold partner with an estimated revenue of around 3.S million euros for FY19.

The proposed acquisition will strengthen the company's Salesforce practice in Europe and in the Salesforce Marketing Cloud domain.

In Wednesday’s trading session, the stock of persistent opened at Rs. 621 as against previous close of Rs. 617.05. But later it cooled down and at 15.07 hours the stock was trading at Rs 613.50.

Persistent Systems is a global company specialising in software product and technology services. Persistent develops solutions in key next-generation technology areas including analytics, big data, cloud computing, mobility and social, for the telecommunications, life sciences, healthcare and banking & financial services verticals.