Persistent Systems Limited, through its step-down subsidiary PerSys Estonia OÜ, has entered into a Business Purchase Agreement with Concise Systems OÜ, Estonia, to acquire part of its business. The agreement was signed on May 28, 2026, and is subject to customary closing conditions.
The business being acquired includes purchased assets, assumed liabilities, and select employees and contractors. Concise Systems, founded in 2008 in Estonia, provides software engineering and IT consulting services. The annual revenue from the acquired business is estimated at EUR 11.6 million, and the business operates in IT services and IT-enabled services.
The total purchase consideration for the acquisition is EUR 5.6 million in cash, which includes a deferred payment of EUR 1.5 million over two years. The acquisition is expected to be completed within 4 to 8 weeks.
Persistent Systems is acquiring the business to consolidate its relationship with a strategic customer and expand its nearshore delivery presence in Eastern Europe. Persistent is the primary service provider to the customer, and the acquired business is already structured as a sub-contract arrangement through Persistent. The acquisition is intended to de-risk long-term delivery to the customer and open other avenues of partnership between the customer and Persistent.
The transaction is not a related party transaction, and Persistent's promoters and promoter group entities do not have any interest in the deal. Persistent Systems is not acquiring shares of Concise, only part of its business, and the acquisition does not involve any change in shareholding or control.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.