Pune-based outsourced software product development (OPD) services company Persistent Systems Ltd (PSL) has entered into an agreement to acquire the OPD business of Infospectrum Inc and its subsidiary Infospectrum India Pvt Ltd. The transaction is expected to close during this quarter, subject to approvals.
The acquisition will bring on board around 200 software professionals and raise the strength of PSL's Nagpur delivery centre to 800.
It will enable PSL to further tap European markets and provide access to customers from verticals such as aerospace and defence, maritime, transportation and logistics, satellite imaging and geographic information systems.
Dr Anand Deshpande, Chairman and Managing Director, PSL said, “Infospectrum has customers in different geographies and domains that are complementary to Persistent and be good growth drivers for us.”
As part of the integration of the two businesses, Mr Jayant Chopde, CEO of Infospectrum India, Mr Nitin Nistane, COO, and Mr Anand Aurangabadkar, CFO, will join PSL.