Persistent Systems Limited, through its step-down subsidiary PerSys Estonia OÜ, has entered into a Business Purchase Agreement with Concise Systems OÜ, Estonia on May 28, 2026. The agreement is for the acquisition of part of Concise Systems' business, subject to the satisfaction of customary closing conditions.

Transaction Details

  • Target Entity: Part of the business of Concise Systems OÜ, Estonia
  • Transaction Structure: Business purchase (asset and liability acquisition), not a share acquisition
  • Annual Revenue of Acquired Business: EUR 11.6 million
  • Purchase Consideration: EUR 5.6 million total, consisting of:
  • Deferred payment of EUR 1.5 million payable over a period of 2 years
  • Consideration Type: Cash consideration only (no share swap or other forms)
  • Expected Completion Timeline: 4-8 weeks from May 28, 2026, subject to satisfaction of customary closing conditions

Business Being Acquired

The acquisition includes purchased assets, assumed liabilities, along with select employees and contractors (referred to as "Business" in the disclosure).

Strategic Rationale and Impact

The acquisition will help in:

  • Consolidating the relationship with a strategic customer
  • Expanding Persistent's nearshore delivery presence in Eastern Europe
  • De-risking long-term delivery to the customer
  • Opening other avenues of partnership between the customer and Persistent

Persistent is currently the primary service provider to the customer, and the business being acquired is already structured as a sub-contractor arrangement through Persistent.

Regulatory and Compliance Aspects

  • Related Party Status: Not a related party transaction
  • Promoter/Promoter Group Interest: No interest from Persistent's promoters or promoter group entities in this transaction
  • Government/Regulatory Approvals: Not applicable (no approvals required)
  • SEBI Regulation: Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular ref. no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Target Company Background

Concise Systems OÜ was founded in 2008 in Estonia and provides software engineering and IT consulting services. Persistent is acquiring only part of their business, not the entire company.

Industry Classification

The acquired business operates in the IT services and IT enabled services industry.

Financial Impact

The disclosure does not quantify the specific financial impact on Persistent Systems Limited's financial statements. The transaction involves acquisition of assets and assumption of liabilities with EUR 11.6 million annual revenue for a purchase consideration of EUR 5.6 million.

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