Persistent Systems to acquire French software business from Agilent Technologies

01 Jun 2011 Evaluate

Persistent Systems, a leader in outsourced software product development (OPD) services, has signed a definitive agreement to acquire Agilent Technologies’ software marketing and development business based at Grenoble in France. Subject to customary closing conditions, the acquisition is expected to be final by August 01, 2011.

Persistent Systems’ acquisition of Agilent’s software marketing and development business in Grenoble will contribute to the company’s strategic thrust in the life sciences and healthcare markets. The Agilent business is presently focused on supplying data acquisition and control software for scientific instruments to the life sciences, environmental, energy, applied research and other markets.

The efforts of this business will further bolster Persistent’s growing life sciences domain expertise, which includes more than 40 life sciences domain experts and more than 500 software professionals working on services supporting laboratory instrumentation, bioinformatics and chemical informatics projects for leading companies in the Life Sciences and Healthcare markets.

Following the acquisition, Persistent’s Life Sciences and Healthcare team will be further strengthened with the addition of Agilent’s highly experienced team in Grenoble.

Persistent Systems’s net profit has declined by 23.58% at Rs 32.34 crore for the quarter ended March 31, 2011 as compared to Rs 42.32 crore for the quarter ended March 31, 2010. Its net sales has registered growth of 20.25% at Rs 166.20 crore for the quarter under review as compared to Rs 138.21 crore for the corresponding quarter of the previous Fiscal.

 

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