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Persistent acquires Infospectrum's OPD biz

Hrishikesh Joshi  |  Mumbai/ Pune 

Pune-based Persistent Systems, an outsourced product development (OPD) service provider company, today announced that it has entered into a definitive agreement to acquire the business of Infospectrum Inc and its subsidiary- Private Limited.

Persistent Systems’ acquisition of Infospectrum’s business will contribute to the company’s strategic thrust by providing better customer foothold in domains identified by them as their growth areas. This acquisition will enable to further tap the European markets and provide access to customer’s from verticals like aerospace and defense, complex manufacturing, maritime, transportation and logistics, satellite imaging and geographic information systems.

The company is aiming to augment the company’s delivery organization in Nagpur for leveraging its growth plans. With this acquisition, the company’s Nagpur development center will be 800 plus employees out of which 200 software professionals are from Infospectrum, India.

Elaborating on the acquisition, Anand Deshpande, chairman and managing director, said, "Infospectrum is already a well-established player in the market. Infospectrum has customers in different geographies and domains which are complementary to Persistent and would be good growth drivers for us." Deshpande added, " 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.” Jayant Chopde, CEO of Infospectrum’s India operation said, “We have admired Persistent Systems’ growth as an Company. Being part of Persistent Systems, will enable us to provide better, faster and efficient services to our existing and potential set of customers."

of would join operations along with Nitin Nistane, COO and Anand Aurangabadkar, CFO of The closing of the transaction is subject to customary approvals and satisfaction of other customary conditions. The transaction is expected to close during this financial quarter.

First Published: Thu, February 03 2011. 00:39 IST