Persistent Systems gains on planning to acquire Arrka
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Persistent Systems is currently trading at Rs. 5474.50, up by 37.80 points or 0.70% from its previous closing of Rs. 5436.70 on the BSE.
The scrip opened at Rs. 5438.95 and has touched a high and low of Rs. 5489.70 and Rs. 5394.60 respectively. So far 1837 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 5587.95 on 27-Sep-2024 and a 52 week low of Rs. 2790.00 on 09-Oct-2023.
Last one week high and low of the scrip stood at Rs. 5587.95 and Rs. 5272.10 respectively. The current market cap of the company is Rs. 83827.08 crore.
The promoters holding in the company stood at 31.02%, while Institutions and Non-Institutions held 50.78% and 18.19% respectively.
Persistent Systems has intended to acquire Arrka, a Pune-based company renowned for its decade-long data privacy expertise, its pioneering Data Privacy Management platform and growing expertise in AI governance. This strategic acquisition significantly enhances Persistent's AI-led, platform-driven services and strengthens its ability to provide comprehensive offerings in digital governance, including data privacy, AI governance, and cybersecurity, among others. With Arrka's expertise, Persistent will help clients accelerate their transformation journeys while ensuring ethical, responsible, and compliant AI.
With the widespread adoption of AI, implementing and managing digital governance in general and data privacy and responsible AI are taking center stage for enterprises across industries. Persistent is addressing the opportunities in AI through strategic investments in innovative platforms like SASVA, an in-house cutting-edge platform using generative and deterministic AI, as well as through tuck-in acquisitions such as that of Starfish Associates, to strengthen its position in AI-powered Contact Center and Unified Communications. The integration of Arrka is a critical component in scaling Persistent’s AI practice and addressing the rising demand for digital governance. It is a key to the company’s strategy to deliver responsible, ethical, and comprehensive platform-driven digital solutions.
Persistent Systems is a global company specializing in software product and technology services.
