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Persistent up 2% on deal with Google Cloud to drive innovative solutions

The uptick in share price came after the IT major announced that it has entered into a long-term strategic partnership agreement with Google Cloud, to drive innovative solutions

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SI Reporter New Delhi

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Persistent Systems shares rise: Shares of Persistent Systems rose as much as 1.55 per cent to hit an intraday high of Rs 3,799.55 per share on Tuesday.

However, at 1:26 PM, the stock had pared its gains, and was trading 0.44 per cent higher at Rs 3,758.15 per share. In comparison, BSE Sensex was up 0.30 per cent at 76,716.80 levels.

The uptick in share price came after the IT major announced that it has entered into a long-term strategic partnership agreement with Google Cloud, to drive innovative solutions 

Under this pact, Persistent will utilise its extensive domain expertise in conjunction with Google Cloud's advanced platforms and AI capabilities to develop innovative solutions tailored for various industries including BFSI, Healthcare and Life Sciences, Communications, Media and Telecom, Consumer Tech, and Hi-Tech. 

The collaboration aims to expedite the integration of emerging AI-driven technologies and provide clients with early access to these new offerings, resulting in unique value propositions. 

The partnership will also facilitate swift deployment of services and comprehensive client support, thereby enhancing overall customer satisfaction. Additionally, Persistent will gain access to additional resources from Google Cloud to expedite the development of new solutions, resulting in quicker time-to-market.

“As a client-centric organisation, we remain committed to delivering client value through access to the unique capabilities and solutions of our curated partner ecosystem. Our new Google Cloud Strategic Partnership Agreement, combined with our industry-leading cloud practice and Google Cloud’s pioneering technologies, positions us to set new benchmarks for what can be achieved through cloud, data and analytics, and AI. Together, we will continue to deliver unparalleled value to our clients by offering the scale, efficiency, and enhanced security necessary to help our clients create differentiation and growth,” said Sandeep Kalra, chief executive officer and executive director of Persistent.

Additionally, this agreement centres on joint efforts to drive global enterprise digital transformation. 

Leveraging Google Cloud's Gemini models and other innovative technologies, Persistent will craft industry-specific solutions to promote widespread adoption of GenAI. 

Together, Google Cloud and Persistent aim to deliver cutting-edge solutions, empowering enterprises to optimise their cloud investments, modernise infrastructure, and enhance data capabilities. 

Persistent has heavily invested in its go-to-market strategies and talent development, bolstering its collaboration with Google Cloud. 

As a specialised Global Solutions Systems Integrator (SSI) partner, Persistent boasts a proven track record in implementing Google Cloud solutions. This expanded partnership will further assist joint clients in harnessing the cloud's potential for scalability and innovation.

“Global organisations today are digitally transforming with Google Cloud’s trusted infrastructure, services, and generative AI. This new Strategic Partnership Agreement will help these organisations accelerate their cloud- and AI-driven transformations with leading technology from Google Cloud and thousands of specialised and certified experts from Persistent. We’re excited to work with Persistent to bring even more cloud and AI services and solutions to enterprises,” said Kevin Ichhpurani, corporate vice president of global ecosystem and channels at Google Cloud.

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First Published: Jun 11 2024 | 1:59 PM IST

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