Persistent Systems Will Acquire Capiot Software for $6.34M

Pune: Persistent Systems NSE -5.76 % will acquire Capiot Software and its subsidiaries in India, Australia and Singapore, the Pune-based IT services provider said on Thursday.

Persistent will pay $5.45 million for the Palo Alto, California-based Capiot’s India operations and $0.89 million for its US business, it said. The deal is expected to close in two to four weeks.

Capiot, founded in 2014, specializes in enterprise integration with expertise in MuleSoft, Red Hat and TIBCO. It also delivers enterprise modernization, with advanced proficiency in key partner platforms, frameworks and industry data models.

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