Persistent Systems has successfully completed the acquisition of identified assets from SoHo Dragon Inc. as part of its strategic expansion plans. The deal was finalized on November 16, 2024, with all necessary customary closing conditions being met.

Regulatory Filing and SEBI Disclosure

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Persistent Systems Limited provided the required update to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) regarding the acquisition. The earlier filing, Ref. No. NSE & BSE / 2024-25 / 149, had informed stakeholders of the progress of this transaction.

This update confirms that the acquisition was concluded on the specified date, marking a significant milestone in Persistent Systems' growth trajectory. The disclosure is aligned with SEBI's Circular (SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123), which outlines the procedural requirements for corporate acquisitions.

Impact of the Acquisition

The acquisition of SoHo Dragon Inc.'s assets is expected to enhance Persistent Systems' business capabilities and extend its reach in the tech market. The successful completion of this acquisition aligns with Persistent’s strategic objectives to broaden its portfolio and strengthen its position within the industry.

The company has expressed confidence that this move will lead to long-term growth and innovation, expanding its existing capabilities and service offerings.

For the full details of the acquisition and its implications, visit Persistent Systems’ official website or refer to the SEBI filings on the stock exchanges.

This is an important development for the investors and stakeholders of Persistent Systems, further demonstrating the company's commitment to meeting regulatory requirements and expanding its global presence.

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