Persistent Systems acquires US-based Data Glove for $90.5 million

Continuing with its acquisition spree, Pune-headquartered Persistent Systems announced the acquisition of Princeton, New Jersey-based Data Glove for a consideration of $90.50 million (around Rs 678 crore).

Established in 2010, Data Glove is a leading player in transformative consulting services and business solutions with total annual revenue for CY21 of $48.96 million and over 700 employees worldwide. Data Glove brings extensive experience across Microsoft Azure, business applications and workplace offerings as a One Commercial Partner (OCP).

In terms of financial details of the deal, Persistent will make an upfront payment of $50.69 million to Data Glove and founders of the company will