Persistent Systems was founded in 1990 by Anand Deshpande, a former Hewlett-Packard employee, with an investment of $21,000. In 2000, Intel Capital invested $1 million in the company for a 3.5% stake.[3] In 2005, Persistent raised $18.8 million from Norwest Venture Partners and Gabriel Venture Partners.[4]
In February 2011, Persistent took over the operations of Nagpur-based Infospectrum India.[6] In 2012, Persistent Systems acquired Openwave's location business.[7]
In 2015, Persistent Systems completed the acquisition of the digital content management solutions business of US-based Akumina.[8] In 2016, Persistent product arm Accelerite purchased Citrix's products CloudPlatform (based on Apache CloudStack) and CloudPortal Business Manager.[9] In 2016, Persistent acquired PRM Cloud Solutions, a Salesforce consulting partner.[10] In 2016, Persistent Systems launched a specialized engineering service for IBM WatsonIoT platform.[11]
In 2017, Persistent Systems acquired a Swiss company called Parx Werk.[12] In 2019, Persistent joined Siemens' MindSphere partner program to deliver industrial internet of things (IIoT) services.[13] In 2019, Persistent Systems acquired Youperience, a Salesforce implementation company.[14] In 2020, the company acquired US-based enterprise software firm Capiot Software.[15]
In 2021, Persistent Systems acquired certain assets of Sureline Systems, a cloud migration company.[16] In 2021, Persistent acquired Software Corporation International (SCI) and its affiliate company Fusion360 for $53 million.[17] It also announced the acquisition of Shree Partners, a New Jersey-based IT and cloud management company.[17]
In February 2022, Persistent acquired the American consulting firm Data Glove for $90.5 million.[18] In March 2022, it acquired the American cloud computing services company MediaAgility for $71.71 million.[19][20]
Activities
The company organizes an annual hackathon called Semicolons for its employees.[21] The company also organizes IBM's Call for Code hackathon at its Goa, Nagpur and Pune offices.[22]