Persistent Systems Germany GmbH has entered into a Share Purchase Agreement dated June 25, 2019 to acquire 100% share capital of Youperience GmbH, a Salesforce Certified Gold Partner in Germany.
The acquisition is subject to customary closing conditions which are expected to be completed within 2 weeks. The Company will update on the closure of the transaction in due course.
Youperience GmbH (Youperience) is a Salesforce Gold partner with estimated revenues of about €3.t Million for 12 months ended March 31, 2019. The proposed acquisition strengthens Persistent's Salesforce practice in Europe and in the Salesforce Marketing Cloud domain.
The enterprise value payable for the acquisition of 100% shares of Youperience is estimated to be €4.8 Million, subject to customary adjustments for working capital. Additionally, an amount up to €2 Million to be payable over 2 years which is contingent on performance and retention of Key Management Employees.
Shares of PERSISTENT SYSTEMS LTD. was last trading in BSE at Rs.617.05 as compared to the previous close of Rs. 625.55. The total number of shares traded during the day was 962 in over 431 trades.
The stock hit an intraday high of Rs. 625.55 and intraday low of 613.1. The net turnover during the day was Rs. 597436.