PE Fund Investments
Persistent System acquires US-based IT Services firm Data Glove for $90.5 M
Pune-based publicly-listed Persistent Systems iks to acquire the assets of Princeton, New Jersey, NJ (USA)-based Data Glove Inc., including its units based out of Australia, UK, Canada and Singapore. Persistent, through its German subsidiary, will also acquire the equity of Data Glove's subsidiary in Costa Rica. The total purchase consideration payable for the acquisition of Data Glove Group is $90.50 million. Through this acquisition, Persistent will enhance its partnership with Microsoft, strengthen expertise in Azure-based digital transformation and other offerings in the Microsoft stack, as well as expand its geographic footprint and talent pool. Established in 2010, Data Glove provides consulting services and business solutions with total annual revenue for CY21 of USD 48.96 million and 700+ employees worldwide. Data Glove is a Microsoft Cloud Modernization Services Partner with Gold level competencies in Azure Cloud Platform.
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