Persistent Systems to acquire SCI, Shree Infosoft for $60 million

IT firm Persistent Systems on Wednesday said its US subsidiary will acquire North Carolina-based Software Corporation International (SCI) and its affiliate, Fusion360 for USD 53 million – a move that will bolster its expertise in serving banking, financial services, and insurance (BFSI) clients.

The Pune-based company has also announced the acquisition of the business of New Jersey-based Shree Partners, including its subsidiary in India for USD 6.87 million.

Persistent Systems Chief Executive Officer and Executive Director Sandeep Kalra said the company continues to see rapid acceleration of digital transformation with its financial services clients, requiring not only technology but domain expertise in areas like Payments and regulatory compliance.