|Traded as||BSE: 533179
|Key people||Dr. Anand Deshpande, Chairman, M.D. & CEO
Nitin Kulkarni, Executive Director and COO
Dr. R. Venkateswaran, CTO
T. M Vijayaraman, Head, Persistent Labs
Rohit Kamat, CFO
Vivek Sadhale, Company Secretary and Head - Legal and Investor Relations
Sameer Bendre, Chief People Officer
Hari Haran, President, Persistent Systems Inc
|Revenue||$207.39 million USD for FY11-12|
Persistent Systems is a global company specializing in software product and technology services. It has 6,000 employees and some 300 customers spread across North America, Europe, and Asia. Its focus areas are: Cloud Computing, Mobility, Analytics and Collaboration, for telecommunications, life sciences, consumer packaged goods, banking & financial services and healthcare verticals.
Persistent Systems was incorporated as Persistent Systems Private Limited on May 30, 1990. It was subsequently converted into a public Limited company on September 17, 2007 with the name Persistent Systems Limited and a new certificate of incorporation was issued on September 28, 2007 from the RoC.
Shares in the company were listed on the National Stock Exchange of India in March 2010. The operations of Nagpur-based Infospectrum India Private, an outsourced private development of US company Infospectrum, were taken over by Persistent in February 2011.
Persistent has facilities in three continents, with nine development centers in Europe (Grenoble), America and Asia. In India, Persistent operates from Pune and houses teams of development engineers in three facilities, named Bhageerath, Pingala-Aryabhata and Hinjewadi, which are within a few miles of one another. Its other offices are spread across Nagpur, Goa, Hyderabad and Bangalore.
Collaborations and Acquisitions
2012: Persistent Systems Strengthens Product Maintenance & Support Business; Acquires Openwave’s Location Business
2011: Persistent acquires OPD business of Infospectrum, Inc and its subsidiary - Infospectrum India Private Limited.
2011: Sprint Nextel Corporation [NYSE:S] and Persistent Systems enter into a Joint Venture
2011: Persistent Systems acquires French Software Business from Agilent Technologies
2011: Persistent Systems Continues to Expand Footprint in Japan; Enters into a Strategic Partnership with Realcom
2011: Dassault Systèmes Partners with Persistent Systems in India
2009: Agilent Collaborates with Persistent Systems, Joins DriverCentral.net to Promote Multivendor Chromatography System Interoperability
Awards & Recognition
- Named as a leading player in the Software/ISV R&D and Consumer Software Segments by Zinnov Management Consulting 2012
- Recognized as "One of the best leaders in research & development services" by IAOP (International Association of Outsourcing Professionals)
- Ranked amongst the Top Ten Companies for Investor Relations and Vivek Sadhale, Head of Investor Relations; ranked sixth as the 'Best Investor Relations Professional in India' by - Thomson Reuters Extel Survey Awards
- Rajesh Ghonasgi, CFO, Persistent Systems awarded the ‘CFO100 Roll of Honour’, category - ‘Winning Edge’ in Corporate Governance/Financial Control - Revenues below Rs 1000 cr
- Awarded the Maharashtra Information Technology Award – 2011 in the category - IT Software,by the Government of Maharashtra
- Wins the Institute of Company Secretaries of India (ICSI) Excellence in Corporate Governance Award 2011: Ranked amongst Top 5 Companies in India
- Wins the Institute of Chartered Accountants of India (ICAI), Silver Shield Award for Excellence in Financial Reporting
- Wins the Asset – Gold Award for Social Responsibility and Investor Relations 2011. Ranked amongst the top eight international companies that follow ‘social responsibility and investor relations practices’
- Awarded the Indian IT Company of the Year by Bloomberg UTV
- Awarded SAFA Best Presented Accounts Award 2010
- Ranked amongst the Best Following Corporate Governance Practices in India by IR Global Rankings (IRGR)
- Recognized in the 2011 Global Services 100 List; also ranked amongst Top Product Engineering Companies
- Ranked among the Top 2 players in Cloud Computing and Top 3 in Software/ ISV R&D Segments by Zinnov Management Consulting
- Rajesh Ghonasgi, CFO, Persistent Systems awarded the ‘CFO100 Roll of Honour’, category - Winning Edge’ in Raising Capital / Capital Restructuring
- Wins the Indira Excellence Award in the category ‘Employer of the Year’ for Creating Employment for the Youth
- Awarded Asia’s Best Employer Brand Award 2010-11 in the Western Region (India) in the Category Managing Health at Workplace
- Ranked fifth in PwC Global Software 100 Leaders 2011 List (India Region)
- Wins Titanium Award at the Asset Triple A Corporate Awards 2010 for Excellence in Corporate Governance, Social Responsibility and Investor Relations
- Wins the Institute of Company Secretaries of India (ICSI) Excellence in Corporate Governance Award 2010
- Wins the Institute of Chartered Accountants of India (ICAI) Award for Excellence in Financial Reporting for the year 2009-2010
- Annual Report Wins League of American Comm. Professionals (LACP) 2010 [www.persistentsys.com/desktopmodules/CMSArticles/UploadFiles/CMS_530985990_PR_Persistent_LACP_Award17112010.pdf Platinum Award] in Print Category.
- Annual Report Wins League of American Comm. Professionals (LACP) 2010 Gold – Debut Award.
- Annual Report ranked 9th in the top 100 communication and designs for the year 2009-10 by LACP.
- Wins the coveted Bloomberg UTV’s 'CXO Awards 2010 - The IT Chapter', in ‘India’s Emerging Software Company of the Year’ category.
- Won Samsung India Software Operations (SISO) as 'Most Preferred Outsourcing Business Partner' award for the year 2009.
- Won the Institute of Chartered Accountants of India (ICAI) 'Award for excellence in financial reporting' for the Annual Report 2008-09.
- Persistent’s PaxPro Packaging Solution awarded the ‘Consumer Goods Technology Reader’s Choice Survey’ award the fourth consecutive year.
In order to fulfill the Company’s Corporate Social Responsibility, Persistent Systems has been donating to the institutions, working primarily in the field of Health and Education since the financial year 1995-96. The Company earmarks 1% of the Consolidated Net Profit of the previous financial year for the purpose of donation in the subsequent financial year. To institutionalize Persistent System’s Corporate Social Responsibility initiative and to develop a systematic approach to administer the process of grant of donations, the Company formed a public charitable trust, named Persistent Foundation (the “Foundation”) on October 29, 2008. The Foundation was registered with the office of the Deputy Charity Commissioner, Pune on March 21, 2009.