M&A
Persistent Systems to buy assets of US-based staffing co. SoHo Dragon for $4.7 M
Pune-based, listed IT services firm Persistent Systems, is to acquire certain assets of US-based Soho Dragons , a consulting and staffing firm that focuses on technology deployments, for USD 4.7 million. Of this, Persistent will pay USD 3.09 million upfront, while the remaining USD 1.49 million will be a cumulative earnout over a three-year period, contingent on meeting certain performance milestones.The acquisition of these select assets will help Persistent Systems in consolidating the relationship with a strategic and large customer within its BFSI vertical.
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