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Updated:20 May, 2019, 15:56 PM IST

BSE
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Updated:20 May, 2019, 16:01 PM IST

The company was incorporated as Persistent Systems Private Limited on May 30, 1990. The Company 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.

It is an OPD specialty company, offering the customers the benefits of offshore delivery. It designs, develops and maintains software systems and solutions, creates new applications and enhances the functionality of the customers‘ existing software products. It delivers services across all stages of the product life–cycle, which enables it to work with a wide–range of customers and allows it to develop, enhance and deploy its customers’ software products. It has been recognized as one of the leading technology companies in the Deloitte Touche Tohmatsu Technology Fast 500 Asia Pacific 2009.

The company is having depth of experience in the focused areas of telecommunications, life sciences and infrastructure and systems. It has invested and plans to continuously invest in new technologies and frameworks in the areas of cloud computing, analytics, enterprise collaboration and enterprise mobility. The company is an innovator and helps its customers to build innovative solutions. This was recognized when it won the 2008 NASSCOM Innovation Award. Its comprehensive suite of service offerings allows it to attract new customers and expand existing customer relationships. Over the past five years, the company has contributed to more than 3,000 product releases for its customers.

The company is focused on outsourced software product development for its customers. It works with companies who build and deploy software products across all phases of the product lifecycle. It designs, develops, maintains, supports, extends, and deploys software products for its customers. The company’s teams trained with its proprietary techniques, time–to–market accelerators, connectors and integration services and processes help its customers to deliver products to their end–users efficiently.

Subsidiaries:

Subsidiaries in India

Persistent eBusiness Solutions Limited – Persistent eBusiness Solutions Limited was incorporated on May 17, 2000 in the State of Maharashtra and is currently engaged in the business of providing software development, consultancy and system integration services to clients in India. The authorised share capital of Persistent eBusiness Solutions Limited is Rs. 20,000,000 divided into 2,000,000 equity shares of Rs.10 each and the issued and paid up share capital of Persistent eBusiness Solutions Limited is Rs. 9,203,000 divided into 920,300 equity shares of Rs. 10 each. The Company holds 920,000 equity shares of Persistent eBusiness Solutions Limited aggregating 99.97% of the issued and paid up share capital of Persistent eBusiness Solutions Limited and the remaining equity shares of Persistent eBusiness Solutions Limited are held by the Promoter, Dr. Anand Deshpande jointly with other individuals, as nominees of the Company, with the beneficial interest in the same being with the Company.

Persistent Systems and Solutions Limited –  Persistent Systems and Solutions Limited was incorporated on May 22, 2008 in the State of Maharashtra and is currently engaged in the business of providing software development services through a unit in a SEZ. The authorised share capital of Persistent Systems and Solutions Limited is Rs.100,000,000 divided into 10,000,000 shares of Rs.10 each and the issued and paid up share capital of Persistent Systems Solutions Limited is Rs. 14,500,000 divided into 1,450,000 equity shares of Rs. 10 each. The Company holds 1,449,940 equity shares in Persistent Systems and Solutions Limited aggregating 99.99% of the issued and paid up share capital of Persistent Systems and Solutions Limited and the remainder of the shareholding of Persistent Systems and Solutions Limited are held by the Promoter, Dr. Anand Deshpande, jointly with other individuals, as nominees of the Company, with the beneficial interest in the same being with the Company.

Subsidiary in USA

Persistent Systems, Inc.– Persistent Systems, Inc. was incorporated under the laws of the State of California on October 18, 2001 and is currently engaged in the business of providing software development, consultancy and system integration services to clients in the United States and other countries. The authorised share capital of Persistent Systems, Inc. is US$4,100,000 divided into 41,000,000 common stock of US$ 0.10 each and the issued and paid up share capital of Persistent Systems, Inc. is US$3,700,000 divided into 37,000,000 common stock of US$ 0.10 each, all of which are held by the Company.

Subsidiary in Singapore

Persistent Systems Pte. Ltd.– Persistent Systems Pte. Ltd. was incorporated on April 19, 2007 in Singapore and is currently engaged in the buiness of providing software development, consultancy and system integration services to clients in the south east Asian region. The issued and paid up share capital of Persistent Systems Pte. Ltd. is Sing $500,000 divided into 500,000 equity shares of Sing $1 each, all of which are held by the Company.

Milestones:

  • 2010 – M/1M Announces Partnership with Persistent Systems; CowardEngineering First Beneficiary.
  • Persistent Systems buys US firm Infospectrum
  • 2009–10 – Received DIN EN ISO 9001:2008 certification for the software design, development, testing, support, enhancement services for the ChemLMS Product
  • 2009–10 – Acquired certain assets of Paxonix, Inc., a subsidiary of MeadWestvaco Corporation through the wholly owned subsidiary of the Company viz. Persistent Systems, Inc.
  • 2008–09 – Formed a public charitable institute, Persistent Foundation to institutionalise the Corporate Social Responsibility initiative
  • 2008–09 – Formed a wholly owned Subsidiary, Persistent Systems and Solutions Limited in Pune, India
  • 2008–09 – Set up a branch office at Quebec, Canada
  • 2007–08 – Received an ISO27001:2005 Certification for Pune (except Hinjewadi), Nagpur and Goa
  • 2007–08 – Set up branch offices at Ottawa and Vancouver, Canada
  • 2007–08 – Formed a wholly owned subsidiary, Persistent Systems Pte. Ltd. in Singapore
  • 2007–08 – Opened a branch office at Rotterdam, The Netherlands
  • 2007–08 – Signed an asset purchase and sale agreement with Metrikus (India) Private Limited, Hyderabad, India and accordingly set up Hyderabad branch office
  • 2007–08 – Converted into a public limited company by a special resolution passed at the EGM held on September 17, 2007. The fresh certificate of incorporation consequent on conversion was issued to the Company on September 28, 2007 by the RoC
  • 2006–07 – Became a –Search Appliance Partner‘ for Google Inc.
  • 2005–06 – Investment by Intel Mauritius
  • 2005–06 – Joint investment by Norwest and Gabriel
  • 2005–06 – Started operations at –Pingala–Aryabhata‘, new owned premises at Pune, India
  • 2005–06 – Acquired Goa based ControlNet (India) Private Limited
  • 2004–05 – Set up a branch office at Tokyo, Japan
  • 2004–05 – Joined Microsoft RFID partners council
  • 2003–04 – Development center at Nagpur, India became operational
  • 2003–04 – Set up a branch office at Edinburgh, Scotland, UK
  • 2001–02 – Started operations at –Bhageerath‘ new state–of–the–art owned premises at Pune, India
  • 2001–02 – Appointed three Independent Directors on the Board
  • 2001–02 – Set up Persistent Systems, Inc., the wholly owned subsidiary in U.S.A.
  • 2000–01 – Investment by Intel 64 LLC
  • 1999–00 – Introduced employees stock options scheme
  • 1998–99 – Started operations at –Panini‘ new owned premises at Pune, India
  • 1990–91 – Incorporated on May 30, 1990

Awards and achievements:

  • 2012
  • Persistent Systems Offers Academic Research Grant To Indiana University.
  • Persistent Systems Ranked for Excellence in Corporate Governance by ICSI.
  • Persistent Systems Develops Exploriments Mobile Learning Apps for Global iPad Community.
  • Persistent Systems Announces Strategic Solutions with IBM InfoSphere Biginsights.
  • 2011
  • Persistent Systems Wins Titanium Award at the Asset Triple A Corporate Awards
  • 2009 – Featured in the Delloitte Technology Fast 500 Asia Pacific 2009 Ranking
  • 2009 – Won the NASSCOM Innovation Award for 2008, in the –Market Facing – Business Process and Business Model‘ category
  • 2009 – Won the Institute of Chartered Accountants of India (ICAI) Award for excellence in financial reporting
  • 2009 – Ranked 9th on Fast Company‘s Fast 50 Readers Favorites of 2008 in the companies using – business as a force of positive change and helping its customers‘
  • 2009 – Ranked as a Top Twelve IT Outsourcing Vendor of manufacturing and supply chain services to the life sciences market
  • 2008 – Ranked 40th as per total income, in Dun and Bradstreet's India's Top IT Companies 2008
  • 2007 – Received the IT Enterprise (Special Awards) for the Maharashtra Information Technology Award for the year 2007 from Government of Maharashtra for the Nagpur unit
  • 2007 – Ranked amongst the top 500 companies in the –Deloitte Technology Fast 500 Asia Pacific 2007‘ report
  • 2007 – Winner of the Red Herring 100 Global‘ award 2007
  • 2007 – Won Market Growth Strategy Award for OPD Market for the FY 2007 for Mid–market
  • 2007 – Ranked 84th in –Electronics For You– Top 100 Companies‘ based on revenue
  • 2006 – Ranked 37th among the top 50 fastest growing Indian technology companies by Deloitte Touché, Asia Pacific, 2006
  • 2005 – Ranked as the 22nd fastest growing Indian technology company as per Technology Fast 500 Asia Pacific Ranking and CEO Survey 2005 Report‘ by Deloitte
  • 2005 – The Company joins the Microsoft RFID partners council
  • 2004 – Ranked as the 11th fastest growing Indian company in the 'Technology Fast 500 Asia Pacific 2004 Winner Report‘ of Deloitte
  • 2003 – Microsoft award on outstanding contribution to the Microsoft Development Network Community, 2003
  • 2002–03 – The product EnList Report Server wins CSI–Infosys Award 2001 for best shrink–wrapped software product
  • 2000 – Became one of the first companies in Asia to receive an investment from Intel 64 LLC
  • 1998 and 1999 – Recognised as a Microsoft Solution Provider for demonstrated expertise and commitment to providing business solutions based on Microsoft products
  • 1996–97 – Received the First Prize from Government of Maharashtra, Small Scale Division for Export performance during 1996–97
  • 1992–93 – Received the First Prize from Government of Maharashtra, Small Scale Division for Export performance during 1992–93

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