Persistent Systems makes strategic acquisitions, announces payments unit

Pune-based information technology firm Persistent Systems said it will acquire Charlotte, a North Carolina-based Software Corporation International (SCI) and its affiliate, Fusion360, and the business of East Brunswick, New Jersey-based Shree Partners including its subsidiary in India.

Founded in 1990, SCI specializes in payment solutions, integration, and support services for an impressive portfolio of leading US banks. Further, Fusion360 provides application development, maintenance, and support for leading payment platforms including IBM’s Financial Transaction Manager (FTM).

SCI will help enhance Persistent’s capabilities and will serve as the foundation of a dedicated Payments business unit. 

According to Everest Group, the Payments IT services market is