Article · Wikipedia archive · Last revised May 31, 2026

Persistent Systems

Persistent Systems Limited is an Indian multinational technology company based in Pune. Founded in 1990, it provides information technology and software engineering services.

Last revised
May 31, 2026
Read time
≈ 2 min
Length
517 w
Citations
16
Source
Wikipedia ↗
Persistent Systems
Company type
Public
BSE: 533179
NSE: PERSISTENT
IndustryInformation technology
Founded1990 (1990)
FounderAnand Deshpande
HeadquartersPune, Maharashtra, India
Key people
  • Anand Deshpande (Chairman and MD)
  • Sandeep Kalra (CEO)
  • Vinit Teredesai (CFO)1
RevenueIncrease ₹11,938 crore (US$1.2 billion) (2025)
Increase ₹1,822 crore (US$190 million) (2025)
Increase ₹1,400 crore (US$150 million) (2025)
Number of employees
23,941 (December 2024)2
Websitepersistent.com
Footnotes / references
Financials as of 31 March 2025.3

Persistent Systems Limited is an Indian multinational technology company based in Pune. Founded in 1990, it provides information technology and software engineering services.4

History

Persistent's Pingala-Aryabhata campus in Pune source ↗

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.5 In 2005, Persistent raised $18.8 million from Norwest Venture Partners and Gabriel Venture Partners.6

Persistent Systems was listed on the National Stock Exchange of India and Bombay Stock Exchange in March 2010 after its initial public offering.7

In 2014, Persistent Systems incorporated Accelerite, a wholly owned subsidiary based in Silicon Valley, as its software products arm.89 In 2016, Persistent Systems launched a specialized engineering service for IBM Watson IoT platform.10 In 2019, Persistent joined Siemens' MindSphere partner program to deliver industrial internet of things (IIoT) services.11

Notable acquisitions

Year Company Price Ref.
2017 Parx Werk CHF16 million 12
2021 Software Corporation International US$53 million 13
2022 Data Glove US$90.5 million 14
2022 MediaAgility US$71.71 million 15
2024 Starfish Associates US$20.7 million 16
References

References

  1. "Persistent Systems appoints former LTIMindtree exec Vinit Teredesai as chief financial officer". Money Control. 16 May 2024. Retrieved 30 June 2024.
  2. "Persistent Systems Q3 results: Net profit grows 30% YoY to Rs 373 crore, revenue up 23%". Moneycontrol. Retrieved 28 May 2025.
  3. "Quarterly Results for FY 2024-25 - Fourth Quarter Ended March 31, 2025" (PDF). Persistent Systems. 24 April 2025. Retrieved 2 May 2025.
  4. "Persistent Systems Ltd". Morningstar, Inc. 19 April 2024. Retrieved 22 April 2024.
  5. Sonavane, Ravindra N. (3 September 2021). "Persistent's Deshpande joins club of billionaires". mint. Retrieved 22 April 2024.
  6. "Persistent gets $18.8 million VC funding". Business Standard. Retrieved 22 April 2024.
  7. "Persistent Systems IPO subscribed 93.3 times". Reuters. 19 March 2010. Archived from the original on 22 October 2019. Retrieved 22 October 2019.
  8. "Persistent Systems introduces Accelrite to focus on product portfolio". Economic Times. 19 March 2014. Retrieved 4 March 2021.
  9. "Persistent Systems buys two cloud products from Citrix". ET Telecom. Retrieved 22 October 2019.
  10. Sangani, Priyanka (17 March 2016). "Persistent Systems launches specialised engineering services for IBM Watson IoT platform". The Economic Times. Retrieved 22 October 2019.
  11. "Persistent Systems joins Siemens' MindSphere Partner Program for IoT solutions". The Economic Times. 3 May 2019. Retrieved 15 May 2019.
  12. "Persistent Systems to acquire Swiss firm Parx Werk". VCCircle. Retrieved 22 April 2024.
  13. "Persistent Systems to acquire SCI, Shree Infosoft for $60 million". Business Standard. Retrieved 22 April 2024.
  14. "Persistent Systems acquires US-based Data Glove for $90.5 million". Business Standard. Retrieved 22 April 2024.
  15. "Persistent Systems acquires US-based MediaAgility for nearly $72 million". 14 March 2022.
  16. "Starfish Associates: Persistent Systems buys US software firm Starfish Associates for Rs 173 crore". The Economic Times. 3 July 2024.
External links