Persistent Systems Ltd.

Persistent Systems’ U.S. subsidiary has signed an agreement with Citrix Systems International GMBH, a Swiss subsidiary of Citrix Systems, Inc., to acquire the Citrix CloudPlatform and CloudPortal Business Manager product lines in an asset purchase transaction. These products will add to the portfolio of products of Accelerite, the products business of Persistent Systems.The closing of the transaction is subject to customary closing conditions and is expected to close in Persistent's fourth quarter ending March 31, 2016.

Persistent Systems is a global company specializing in software product and technology services. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobility and Social, for the telecommunications, life sciences, healthcare, and banking & financial services verticals.