Persistent Systems creates Accelerite to focus on products

A day after Polaris' hived off its product unit, its peer Persistent Systems has set up 'Accelerite' to take a portfolio of products and related solutions to market.
Accelerite will be a business unit of the Pune-based IT firm and will be headquartered in Silicon Valley, led by Nara Rajagopalan, Persistent said in a statement.
The formation of Accelerite will bring product-centric alignment to business models, strategies, sales, and operations, it added.
"The business model for products is distinctly different from services. Over the last few years, we invested in building a portfolio of products and IP focused on SMAC technologies," Persistent Systems Chairman, Managing Director and CEO Anand Deshpande said.

The creation of Accelerite brings the organisational alignment to achieve global leadership for these products, he added.
According to IT-BPM body Nasscom, the total market opportunity in software products for Indian companies, comprising exports and the domestic market, is estimated to be USD 10 billion by 2020.
Last year, Nasscom set up a 'product council' to help develop the product ecosystem in India. The council was mandated to focus on a six pillar engagement to enhance branding, market access, benchmarking, corporate connect, product design and enablement of product solutions in India.