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Persistent Systems is currently trading at Rs. 4487.30, up by 14.00 points or 0.31% from its previous closing of Rs. 4473.30 on the BSE.

The scrip opened at Rs. 4540.20 and has touched a high and low of Rs. 4557.10 and Rs. 4443.75 respectively. So far 4552 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4986.85 on 03-Jan-2022 and a 52 week low of Rs. 1735.40 on 15-Mar-2021.

Last one week high and low of the scrip stood at Rs. 4557.10 and Rs. 4158.80 respectively. The current market cap of the company is Rs. 34291.13 crore.

The promoters holding in the company stood at 31.26%, while Institutions and Non-Institutions held 46.80% and 21.94% respectively.

Persistent Systems through its wholly owned subsidiaries and affiliates has entered into a stock purchase agreement with MediaAgility India and MediaAgility Inc to acquire MediaAgility Inc. and its subsidiaries in India, UK, Mexico and Singapore. The company will make an upfront payment of $53.25 million to shareholders of MediaAgility. Besides this, shareholders of MediaAgility will be eligible for maximum cumulative earnout of $17.75 million over the next two years subject to certain performance thresholds. The acquisition cost also involves $0.71 million payment to MediaAgility over the next two years subject to their employment continuity.

The acquisition will enhance company’s partnership with Google and will be the foundation for a dedicated Google business unit. This will enable the company to offer verticalized solutions around the Google cloud ecosystem, in-line with our strategy to add relevant skills across key hyperscaler partners. The expected period of acquisition will be completed (Closing of the proposed transaction) within 6-8 weeks or as soon as thereafter, subject to satisfaction of customary closing conditions.

Persistent Systems is a global company specializing in software product and technology services.