Persistent Systems completes acquisition of Data Glove IT Solutions Pvt Ltd

Pursuant to the necessary customary closing conditions with respect to the asset acquisition of Data Glove IT Solutions Private Limited, India, by Persistent Systems Limited ('the Company'), asset acquisitions of Data Glove Inc., USA and its affiliate entities based out of Australia, UK, Canada and Singapore by the wholly owned and step-down subsidiaries of the Company and equity acquisition of Data Glove IT Solutions Limitada, Data Glove's subsidiary in Costa Rica by Persistent Systems Germany GmbH a wholly owned subsidiary of the Company, have been met or waived on March 1, 2022.

The abovementioned asset acquisitions have now been completed. Also, consequent to the equity acquisition, Data Glove IT Solutions Limitada, Costa Rica has become a stepdown subsidiary of the Company.

Shares of Persistent Systems Limited was last trading in BSE at Rs. 3936.75 as compared to the previous close of Rs. 3872.25. The total number of shares traded during the day was 6924 in over 2031 trades.

The stock hit an intraday high of Rs. 3957.85 and intraday low of 3755.15. The net turnover during the day was Rs. 26747509.00.

Source : Equity Bulls

Keywords

PersistentSystems INE262H01013 AssetAcquisition DataGloveITSolutions