Persistent Systems' quarterly earnings report

Persistent Systems Acquires Starfish Associates for $20.7 Million (Rs 173 crore)

Jul 3, 2024, 06:00 AM

Persistent Systems has announced the acquisition of U.S.-based Starfish Associates for a total consideration of $20.7 million (Rs 173 crore). This strategic move aims to bolster Persistent's AI-powered contact center and unified communications services, highlighting a shift towards digital innovation. Following the acquisition announcement, Persistent Systems' stock surged by 2.08%, reaching a 52-week high of Rs 4,592.50 per share on the BSE. The acquisition is expected to strengthen Persistent's position in the AI and digital innovation sectors by integrating Starfish Associates' large enterprise customer base and its automation, integration, and workflow engine.