Persistent Systems jumps after global alliance with Actifio

Persistent Systems surged 16.13% to Rs 1,174.15 after the company announced global alliance with Actifio to help enterprises with data stack modernization and acceleration of digital transformation initiatives.

Actifio is the pioneer of multi-cloud copy data management software, enabling organizations to virtualize and deliver their data instantly, anywhere. The agility of Actifio's multi-cloud copy data management platform will help Persistent deliver modern data protection and instant data access that reduces time to market for new applications while improving security, compliance and governance. The announcement was made after market hours on Friday, 11 September 2020.

Sandeep Kalra, the executive director and president (Technology Services Unit) of Persistent Systems, has said that: "We continue to strengthen our partner ecosystem so we can bring unique technologies like Actifio to our clients. Actifio's market-defining copy data management software should accelerate our clients' most pressing digital transformation projects, from data stack modernization to cloud analytics and cloud migration. Actifio speeds up all of those efforts, and time is money for data-intensive organizations."

Persistent Systems' consolidated net profit rose 7.37% to Rs 90.01 crore on 7.01% increase in revenue from operations to Rs 991.39 crore in Q1 June 2020 over Q4 March 2020.

Persistent Systems is a global solutions company delivering digital business acceleration, enterprise modernization and digital product engineering for businesses across all industries and geographies.

The stock hit an all-time high of Rs 1,188.60 today. It soared 179.55% from its 52-week low of Rs 420 hit on 23 March 2020.

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