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Axis Securities Report
Persistent Systems Ltd. on September 30, 2021 announced entering into an agreement to acquire Charlotte, North Carolina-based Software Corporation International and its affiliate, Fusion360, as well as the business of East Brunswick, New Jersey-based Shree Partners including its subsidiary in India.
The acquisition is in line with Persistent Systems' vision of achieving deeper penetration in the industry verticals, bolstering service lines, and expanding its geographic footprint.
The acquisition is expected to be completed in the next three-five weeks and will be 50-75 basis points dilutive at FY22 Ebit levels.
If synergies play out as per the management's expectations, margin neutrality will be achieved much faster.
The leadership of the acquired companies will continue unchanged.
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