Persistent Systems Acquires Starfish Associates For Rs 173 crore
CIOTechOutlook Team | Thursday, 04 July 2024, 03:22 IST

The total purchase consideration payable for the acquisition of Starfish is $20.7 million, including an upfront payment of $15.4 million (roughly Rs 130 crore) to shareholders, subject to usual adjustments for working capital, debt, and cash on closure, according to Persistent's regulatory filing.
According to the financial terms, sellers will be entitled for a maximum total earnout of $5.1 million over the next two years. This amount is subject on meeting specified performance targets. Furthermore, certain key personnel will be eligible for a total retention bonus of $0.2 million over the next two years, subject to employment continuity.
“Known for its cutting-edge Enterprise Communications automation platform, Starfish Associates caters to the world’s largest enterprises including many Fortune 500 companies. Starfish Associates' automation platform excels as an intelligent integration hub and workflow engine, facilitating seamless connections across a myriad of business applications and communication systems,” Persistent said in a statement.
It improves multi-vendor communication management by automating with platforms including Amazon Connect, Avaya, Cisco, Genesys, and Microsoft Teams. It also interfaces with important corporate platforms such as ServiceNow, Workday, and Microsoft Active Directory to help streamline workflows and operations, according to the release.
CIO Viewpoint
Empowering Women: Shaping the Future of Industry
By CIOTechOutlook Team
Scaling AI: Finding the right Biztech...
By Sujatha Gopal, CTO - Communications, Media & Information Services (CMI), Tata Consultancy services
Gen AI: Transforming Cloud Solutions for...
By Matt Yanchyshyn, VP - AWS Marketplace & Partner Services, AWS
CXO Insights
What's your Innovation Strategy?
By Prashant Lalchandani, Practice Lead - BFS Transformation, Capgemini FS SBU
Migrating to the Cloud - Why you Should...
By Pankaj Sabnis, Principal Architect - Cloud Computing, Infogain
e-Health: The Changing Face of Healthcare