Persistent Systems buys US software firm Starfish Associates for Rs 173 crore

Indian mid-tier IT firm Persistent Systems (Persistent) today announced the intent to acquire 100% stake in US-based software firm Starfish Associates for $20.7 million (around Rs 173 crore). The acquisition is aimed to build on Persistent’s existing engineering capabilities in the Contact Center and Unified Communications space.

The total purchase consideration payable for the acquisition of Starfish is $20.7 million with upfront payment of $15.4 million (approximately Rs 130 crore) to shareholders, subject to customary adjustments for working capital, debt and cash on closing, as per the regulatory filing by Persistent.