Persistent Systems profit up 10% QoQ, revenue up 4.5%

Mid-sized IT services provider Persistent Systems reported 4.5% sequential USD revenue growth and 4.6% rupee revenue growth for the September quarter. On a year-on-year basis, dollar revenue rose 12.3%, while rupee revenue was up 8.1%. Operating profit, however, was up only 4.5% on year, but because of the poor performance in the preceding quarter, rose […]

Persistent Systems restructures after IBM alliance

Persistent Systems, a product and outsourcing company, said it is reorganizing its business structure in four divisions. These divisions are ‘digital’, IBM, Services and Accelerite. It will also set up a new¬†Corporate Operations office whose job will be to accelerate the four growth units. It will be headed by Atul Khadilkar. “Unique to Persistent, the […]

Persistent Systems to acquire some Citrix Systems cloud products

Persistent Systems, a niche IT company that focuses on products and cloud computing, said it had signed an agreement to acquire the Citrix CloudPlatform and CloudPortal Business Manager product lines from Citrix Systems International GMBH, a subsidiary of Citrix Systems. No financial details were revealed. Citrix Systems is one of the biggest companies in the […]