anand-deshpandePersistent Systems, founded by Anand Deshpande ('84), to acquire US enterprise software firm Capiot

VCCircle (October 15, 2020)

Persistent Systems to acquire US enterpise software firm Capiot

Information technology company Persistent Systems Ltd said Thursday it has agreed to acquire Palo Alto, California-based Capiot Software Inc. and its subsidiaries in Australia, India and Singapore.

The acquisition will strengthen Persistent’s enterprise integration capability with Capiot’s strong track record of offerings using TIBCO, MuleSoft and Red Hat platforms, the Indian company said in a statement.

Persistent will acquire Capiot in two stages. It will first take over the US company’s India unit Capiot Software Pvt. Ltd. In the second stage, it will purchase the US company and its units in Australia and Singapore.

The IT firm will pay $5.45 million (about Rs 40 crore) for Capiot’s India operations and $0.89 million (about Rs 6.5 crore) for its US business. The deal is likely to close in two to four weeks’ time.

Capiot was founded in 2014. It reported consolidated revenue of $6.28 million for 2019‐20. (Read More)