Persistent Systems to Acquire Assets from SoHo Dragon Solutions India

Persistent Systems has entered an Asset Purchase Agreement with SoHo Dragon Solutions India for $5.94m. The sale includes employees and contractors, in addition to the customer contract of $4.9m of annual revenue. The purchase involves a cash payout of $3.19m, along with performance-based earnouts of $2.48m and $0.27m as retention for key employees. This acquisition strengthens the BFSI capabilities of Persistent and expands the strategic client relationship of the firm.

 

Source: Business Standard.Persistent Systems has entered an Asset Purchase Agreement with SoHo Dragon Solutions India for $5.94m. The sale includes employees and contractors, in addition to the customer contract of $4.9m of annual revenue. The purchase involves a cash payout of $3.19m, along with performance-based earnouts of $2.48m and $0.27m as retention for key employees. This acquisition strengthens the BFSI capabilities of Persistent and expands the strategic client relationship of the firm.

Persistent Systems has entered an Asset Purchase Agreement with SoHo Dragon Solutions India for $5.94m. The sale includes employees and contractors, in addition to the customer contract of $4.9m of annual revenue. The purchase involves a cash payout of $3.19m, along with performance-based earnouts of $2.48m and $0.27m as retention for key employees. This acquisition strengthens the BFSI capabilities of Persistent and expands the strategic client relationship of the firm.

 

Source: Business Standard.