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Persistent to acquire CAPIOT - strengthening MuleSoft, TIBCO and API-led integration capabilities

Posted On: 2020-10-15 04:07:43


Persistent Systems (BSE and NSE: Persistent) today announced it has entered into an agreement to acquire Palo Alto, CA-based CAPIOT, including its subsidiaries in Australia, India and Singapore.

Founded in 2014, CAPIOT specializes in enterprise integration with valuable expertise in MuleSoft, Red Hat and TIBCO. In addition, CAPIOT delivers enterprise modernization, leading with advanced proficiency in key partner platforms, frameworks and industry data models. The acquisition further strengthens Persistent's ability to:

- Provide enterprise integration strategy & advisory services to guide clients with their integration strategy, platform choice, and roadmap to meet business goals.

- Implement API-led integrations using specialists in the leading integration platforms coupled with frameworks and industry-specific common data models designed to accelerate business outcomes.

- Provide managed integration services to support changing business needs and innovation.

Sandeep Kalra, Executive Director and President of Persistent Systems said, "For enterprise IT to succeed in advancing business goals and sales, it must have a central integration platform to work across disparate applications and data sources. CAPIOT's singular focus in enterprise integration with key platform players like MuleSoft and TIBCO coupled with proprietary frameworks and common data models have accelerated implementations, with many successful rollouts. Their strong history in enterprise integration will provide many of our clients an immediate benefit and will help us solidify our Salesforce ecosystem capabilities. We look forward to welcoming CAPIOT employees, clients, and partners to our family."

Vasudeva Anumukonda, CEO of CAPIOT Software said, "Since our inception, CAPIOT has been committed to delivering the best outcome for our clients in the area of enterprise and data integration. We are excited to become part of Persistent Systems and to bring our expertise in integrating cloud applications and our data APIfication offerings to further augment Persistent capabilities and to accelerate the outcome for our clients, providing broader solutions in an ever-changing landscape."

Shares of PERSISTENT SYSTEMS LTD. was last trading in BSE at Rs.1286.55 as compared to the previous close of Rs. 1368.8. The total number of shares traded during the day was 63148 in over 1653 trades.

The stock hit an intraday high of Rs. 1385 and intraday low of 1260. The net turnover during the day was Rs. 83500121.


Source: Equity Bulls

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