Mid-cap IT stock surge: Persistent Systems share price hits 52-week high. Here’s why

Mid-cap IT stock surges: Persistent Systems share price was trading in the green, up over 1.70 per cent on BSE, soon after the company announced the acquisition of select assets from SoHo Dragon Inc. in a deal valued at $4.7 million, or approximately ₹39 crore, on September 11. This acquisition included specific employees, contractors, and a key customer contract, with the assets expected to generate ₹77 crore in annual revenue. The agreement was finalized on September 10, 2024, and is subject to standard closing conditions, with completion anticipated within 4-8 weeks.