Persistent Systems to Acquire Part of Concise Systems' Business for EUR 5.6M
Persistent Systems, via its subsidiary PerSys Estonia OÜ, will acquire part of Concise Systems OÜ's business for EUR 5.6 million (₹46.58 crore). The acquired business has an estimated annual revenue of EUR 11.6 million (₹96.44 crore). This move aims to strengthen customer relationships and expand nearshore delivery in Eastern Europe.
The acquisition involves a strategic customer and expands geographical presence, but the deal size and revenue are moderate relative to the company's overall scale, suggesting a medium impact.
The acquisition is strategic, aims to strengthen customer relationships, expand delivery presence, and de-risk operations, indicating a positive development for the company.
Persistent Systems Limited, through its step-down subsidiary PerSys Estonia OÜ, has entered into a Business Purchase Agreement with Concise Systems OÜ, Estonia, on May 28, 2026, to acquire a part of its business. This strategic acquisition is subject to customary closing conditions.
The acquired business includes assets, assumed liabilities, and select employees and contractors. The estimated annual revenue from this business is EUR 11.6 million (₹96.44 crore). The total purchase consideration for the acquisition is EUR 5.6 million (₹46.58 crore), which includes a deferred payment of EUR 1.5 million (₹12.42 crore) over two years.
This acquisition is not a related party transaction and does not involve any interest from Persistent's promoters or promoter group. The acquired business operates in the IT services and IT-enabled services sector. The primary objective of this acquisition is to consolidate the relationship with a strategic customer, expand Persistent's nearshore delivery presence in Eastern Europe, and de-risk long-term delivery to the customer while opening new avenues for partnership.
The acquisition is expected to be completed within 4-8 weeks, subject to the satisfaction of customary closing conditions. Concise Systems OÜ, founded in Estonia in 2008, provides software engineering and IT consulting services.
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Persistent Systems Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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