Persistent Systems gains after partnering with Akumina

Persistent Systems rose 1.09% to Rs 666.25 at 11:35 IST on BSE after the company announced the acquisition of the digital content management solutions business of Akumina.

The company made the announcement after trading hours yesterday, 17 November 2015.

Meanwhile, the BSE Sensex was down 44.60 points, or 0.17%, to 25,819.87

On BSE, so far 2,880 shares were traded in the counter, compared with an average volume of 15,769 shares in the past one quarter.

The stock hit a high of Rs 668.80 and a low of Rs 659.20 so far during the day. The stock hit a record high of Rs 960.83 on 2 January 2015. The stock hit a 52-week low of Rs 577 on 29 June 2015.

The stock had outperformed the market over the past one month till 17 November 2015, falling 4.35% compared with Sensex's 4.96% fall. The scrip had, however, underperformed the market in past one quarter, falling 10.09% as against Sensex's 7.22% decline.

The mid-cap company has an equity capital of Rs 80 crore. Face value per share is Rs 10.

Persistent Systems yesterday, 17 November 2015 announced the acquisition of the digital content management solutions business of Akumina, maker of InterChange, an innovative software platform that optimizes user experiences for digital businesses using Microsoft SharePoint. Persistent Systems also announced a strategic partnership and investment in Akumina, strengthening its partner ecosystem for digital transformation.

The SharePoint ecosystem represents more than $12 billion in spending annually, making it vital to any business looking to guide their clients in transforming their organization into a truly digital business. With this relationship with Akumina and the recent acquisition of RGEN Solutions, the company continues to strengthen its ability to assist clients in their digital transformation using Microsoft technologies, Persistent Systems said.

On consolidated basis, Persistent Systems' net profit rose 6.88% to Rs 71.85 crore on 7.83% growth in total income to Rs 561 crore in Q2 September 2015 over Q1 June 2015.

Persistent Systems is a global company specializing in software product and technology services.

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