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PERSISTENT SYSTEMS LTD. - Update - Closure Of Capiot Acquisition
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07 Nov 2020
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the &apos;Regulations&apos;) and further to our above referred intimations, we wish to inform you that the necessary customary closing conditions with respect to acquisition of Capiot Software Inc., USA have been met by Persistent Systems Inc., USA, a wholly owned subsidiary of Persistent Systems Limited on November 7, 2020 (IST). Consequently, Capiot Software Inc., USA has become a Wholly Owned Subsidiary Company of Persistent Systems Inc., USA with effect from November 7, 2020 (IST).&lt;BR&gt; &lt;BR&gt; Consequent to the above, Capiot Software Pte Ltd, Singapore and Capiot Software Pty Ltd, Australia which&lt;BR&gt; are the subsidiary companies of Capiot Software Inc., USA have become step-down subsidiary companies of Persistent Systems Inc., USA as well.&lt;BR&gt; &lt;BR&gt; With this, it is confirmed that all customary closing conditions as stated in the Share Purchase Agreement (SPA) for this acquisition have been met.
View all announcements for PERSISTENT SYSTEMS LTD. Source: BSE India