Persistent to acquire French software biz from Agilent Tech
IT firm Persistent Systems today said it has entered into an agreement with Agilent Technologies to acquire latter's marketing and development business based in France.
The company's acquisition of Agilent's software marketing and development business in France would contribute to the company's strategic thrust in life sciences and healthcare markets, Persistent Systems said in a filing to the Bombay Stock Exchange (BSE).
"The analytical space in Life Science domain holds great promise and through our life sciences centre in Europe, we plan to leverage this area," Persistent Systems CMD Anand Deshpande said.
However, the company did not disclose the financial details of the deal.
The acquisition is expected to be final by August 1, 2011, the release added.
Upon the completion of this transaction Persistent will establish a Life Sciences Center of Excellence in France for the purpose of expanding into the European market.
The Centre will also provide Persistent a platform to better leverage its corporate technology position in areas like Cloud, Analytics, Mobility and Collaboration.
Agilent Technologies operates in chemical analysis, life sciences, electronics and communications.
Shares of Persistent Systems closed at Rs 398.85 on the BSE, up 3.58 per cent from the previous close.
