Persistent Acquires Info Spectrum
Persistent Systems Ltd. a leading outsourced product development company based out of Pune India has acquired Nagpur based Info-Spectrum India Private Limited (IIPL) - a leading product engineering & services company. Check out our exclusive Small Talks with the CEOs of both these companies: #-Link-Snipped-# & #-Link-Snipped-#. With this acquisition, Persistent will strengthen its based in Nagpur and grow to over 800 software professionals in Nagpur by adding over 200 software engineers from IIPL. Persistent's managing director, Dr. Anand Deshpande informed IIPL employees that they will retain all employees including HR & IT staff. <span style="text-decoration: line-through;">However</span>, <span style="text-decoration: line-through;">insider sources have said that the HR and IT staff may be asked to go</span>. [<span style="color: #ff6600;">Updated</span>].
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Persistent has been eyeing on IIPL since last few years as the company grew rapidly over the past few years. IIPL's main business comes from European Countries and acquisition of Info Spectrum helps Persistent setup footprint in Europe.
Excerpts from the press release -
Elaborating on the acquisition, Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems said, “We are very excited about this acquisition. Infospectrum is already a well-established player in the market and Jay and his team has done a phenomenal job in building the company. We are very happy to welcome them in the Persistent family. Infospectrum has customers in different geographies and domains which are complementary to Persistent and would be good growth drivers for us.â€
Dr. Anand Deshpande further added, “We believe that with our focus areas –cloud computing, collaboration, analytics and mobility, we will be able to provide larger value and growth to Infospectrum‘s customers and employees. We are focused on growing our centers in smaller locations and we believe that this acquisition allows us to scale our business in Nagpur, it being a strategic location for us.â€
“We have admired Persistent Systems’ growth as an OPD Company and are delighted to be part of the organization which is a leader in this space. Being part of Persistent Systems will enable us to provide better, faster and efficient services to our existing and potential set of customersâ€, said Jayant (Jay) Chopde, CEO of Infospectrum’s India operation.
Persistent has been eyeing on IIPL since last few years as the company grew rapidly over the past few years. IIPL's main business comes from European Countries and acquisition of Info Spectrum helps Persistent setup footprint in Europe.
Excerpts from the press release -
Elaborating on the acquisition, Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems said, “We are very excited about this acquisition. Infospectrum is already a well-established player in the market and Jay and his team has done a phenomenal job in building the company. We are very happy to welcome them in the Persistent family. Infospectrum has customers in different geographies and domains which are complementary to Persistent and would be good growth drivers for us.â€
Dr. Anand Deshpande further added, “We believe that with our focus areas –cloud computing, collaboration, analytics and mobility, we will be able to provide larger value and growth to Infospectrum‘s customers and employees. We are focused on growing our centers in smaller locations and we believe that this acquisition allows us to scale our business in Nagpur, it being a strategic location for us.â€
“We have admired Persistent Systems’ growth as an OPD Company and are delighted to be part of the organization which is a leader in this space. Being part of Persistent Systems will enable us to provide better, faster and efficient services to our existing and potential set of customersâ€, said Jayant (Jay) Chopde, CEO of Infospectrum’s India operation.
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