Persistent Systems jumps 6% on acquiring SCI, Shree Infosoft

Through these acquisitions, Persistent is forming a new payments business unit and expanding its cloud capabilities

Shares of Persistent Systems jumped 6 per cent to Rs 3755 on the BSE in intra-day session on Thursday after the company said its US subsidiary will acquire North Carolina-based Software Corporation International (SCI) and its affiliate, Fusion360 for $53 million - a move that will bolster its expertise in serving banking, financial services, and insurance (BFSI) clients. 

Further, the Pune-based company also announced the acquisition of the business of New Jersey-based Shree Partners, including its subsidiary in India for $6.87 million.

With the addition of SCI and Fusion360, we are forming a new Payments business unit and expanding our