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Press release

Persistent Systems creates Accelerite to focus on Products

Pune, India and Santa Clara, CA – March 19, 2014: Persistent Systems (BSE & NSE: PERSISTENT), the global leader in software product and technology services, today announced the creation of Accelerite to take a portfolio of products and related solutions to market. Accelerite will be a business unit of Persistent Systems, headquartered in Silicon Valley and led by Nara Rajagopalan.

The formation of Accelerite will bring product-centric alignment to business models, strategies, sales, and operations. Persistent Systems will continue to focus on product development and technology services where it is a well-respected market leader. 

 “The business model for products is distinctly different from services. Over the last few years, we invested in building a portfolio of products and IP focused on SMAC technologies,” said Dr. Anand Deshpande, Chairman, Managing Director and CEO of Persistent Systems. “The creation of Accelerite brings the organizational alignment to achieve global leadership for these products.”

About Persistent Systems:
Persistent Systems (BSE & NSE: PERSISTENT) is a global company specializing in software product and technology services. For over two decades, Persistent has consistently been selected as the trusted innovation partner for the world’s largest technology brands, leading enterprises and pioneering start-ups. Persistent has a global team of more than 7,500 employees worldwide including offices and delivery centers in North America, Europe, and Asia. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobility and Social, for the telecommunications, life sciences, healthcare, and banking & financial services verticals. For more information, please visit: http://www.persistent.com.

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit:
http://content.persistent.com/Pslweb/forward_looking_cautionary_statement.shtml

All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.

Media Contacts:

Rashmi Joshi
Persistent Systems Ltd.
Tel: 91 83083 39400
Email: rashmi_joshi@persistent.co.in 

Ilona Mohacsi
PenVine for Persistent Systems Ltd.
Tel: +1 631 764 3729
Email: ilona@penvine.com