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Persistent Systems acquires CloudPlatform & CloudPortal from Citrix

persistent systemsPune-based Persistent Systems has signed an agreement with Citrix Systems International, a Swiss subsidiary of Citrix Systems, to acquire Citrix CloudPlatform and CloudPortal business manager products in an asset purchase transaction, the company informed the BSE.

The transaction, which was carried out through Persistent’s US based subsidiary, is subject to customary closing conditions and expected to close by the quarter ending March 2016. The company mentions that these products will be added to Accelerite, its products business. The acquisition will help the company offer end-to-end management solutions for public and private cloud platforms.

Accelerite currently provides products like Radia for managing endpoint devices in enterprises; Rovius to convert, migrate, replicate and recover workloads from physical and virtual environments; ConVirt, a cloud platform management system and Aepona for IoT service creation and rCloud for disaster recovery.

Persistent’s acquisitions: In November last year, Persistent acquired the digital content management company Akumina for an undisclosed amount. In February 2014, the company had also acquired CloudSquads, a consultancy company that has created social communities for 70 global companies, for an undisclosed amount. In July the same year, it entered into an asset purchase agreement to acquire certain assets of the mobile advertising firm Hoopz Planet Info.

VC fund for startups: In February last year, 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 startups that were good.

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