wordpress blog stats
Connect with us

Hi, what are you looking for?

Persistent Systems acquires Akumina

persistent systems

Pune based IT company Persistent Systems has acquired digital content management company Akumina for an undisclosed amount, reports IIFL. Akumina is the maker of InterChange software platform that optimizes user experiences for digital businesses using Microsoft SharePoint. Persistent Systems offers solutions in the fields of analytics, big data, cloud, collaboration, mobility and security.

In February, it was reported that Persistent Systems launched a $10 million venture capital fund to invest in very early stage startups and the fund would look to invest in up to 40 startups. At the time, the company said that it had already invested in five startups internationally. It mentioned that it would stay invested for typically 3-5 years. Post this, it would acquire it if the startup was doing good.

It had also launched an early stage fund called Persistent Venture Fund in December 2013. The fund focused on social, mobile, analytics and cloud computing (SMAC) technologies and provides seed capital for early stage companies in these segments. Its portfolio companies include California-based wearable tech startup Hyginex, video calling iPad app Ustyme and life sciences company DxNow.

CloudSquads acquisition: In February 2014, Persistent Systems had also acquired CloudSquads, a consultancy company that has created social communities for 70 global companies, for an undisclosed amount. The terms of the deal were not disclosed, and were subject to certain closing conditions. CloudSquads was founded by Ashish Seth and Henry Bruckstein and has offices in Santa Clara and Pune. It deploys, integrates and runs social communities that uses conversations on social media sites and converts them into actionable insights for marketing, sales and customer service. Its customers include GE, Comcast, BT, Salesforce, Genesys, Logitech, Sandisk, Autodesk, Etrade, Intuit, Aruba, among others.

Other developments:

Advertisement. Scroll to continue reading.

– In July last year, Persistent Systems entered into an asset purchase agreement to acquire certain assets of the mobile advertising firm Hoopz Planet Info. The terms of this acquisition terms or the financial details were not disclosed.

– Persistent had also created a joint venture with US-based wireless provider Sprint Nextel in 2011 to provide national long distance, international long distance, Internet services and managed network services in India.

 

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ