PERSISTENT SYSTEMS LTD. - Updates on Acquisition

Dear Sir / Madam:<BR> <BR> We refer to our appended e-mail dated July 21, 2017 to your office where we informed that on July 21, 2017 (IST), the Company's wholly owned subsidiary in Germany namely, Persistent Systems Germany GmbH has entered into an agreement with PARX Werk AG, Switzerland ('PARX') on July 21, 2017 to acquire PARX, a Salesforce Certified Platinum Partner in DACH region.. The acquisition was subject to customary closing conditions which were expected to get completed within 3-4 weeks.<BR> <BR> In continuation of the same, we wish to inform you that the above Company has completed its acquisition of PARX in terms of the contractual terms, today at 8:30 p.m. (IST).<BR> <BR> Please acknowledge the receipt.<BR> <BR> Thanks and regards,<BR> <BR> Persistent Systems<BR>