Persistent Systems Eyes European Acquisition

Mumbai, Apr 27 (PTI) Mid-sized information technology company Persistent Systems is eyeing a "sizeable acquisition" in Europe, a senior official has said.

Such an acquisition will help increase the continent's share in overall revenues of the Pune-headquartered company to up to 20 per cent from the present 8 per cent, its chief financial officer Sunil Spare has said, adding that this will help diversify revenues beyond the US or North American market.

"If we are able to do a good-sized acquisition, which will help us in terms of taking that number (revenue share) closer to 15 or 20 per cent, that is something we will look at, we are definitely considering," Sapre told PTI.

Persistent will look at right size, right price and cultural fit with its value systems while going ahead with the plans, he said.

When asked whether there are any specific targets underway, Sapre said talks are ongoing, and the company will disclose any developments at the right time when there is meaningful progress.


Sapre said the company, which has seen some acquisitions in the past, will continue scouting for targets which help widen its capabilities as well.

As of March 31, its cash and investments on the book stood at Rs 2,762 crore as against Rs 1,951 crore in the year-ago period.

Sapre said the company is on track to achieve the target of exiting FY27 with an annual revenue rate of USD 2 billion, and added that the acquisition in Europe will take the topline much higher than the aim.

Going forward, the company's employee base will expand at a rate which is lower than the revenue expansion courtesy the technology and automation-led tools, he said.

Persistent, which added nearly 3,000 employees in FY26 to take the overall employee strength to 27,500, will continue with its strategy of not hiring freshers but instead looking at experienced professionals going ahead as well, he said, adding that it has not hired freshers for 18 months now.

The company is most likely to give a wage hike to its employees starting from July, but the board will be deciding the exact quantum of the increments in the next few months, he said.