In a strategic move to bolster its AI-powered contact center and unified communications, Pune-based Persistent Systems has acquired New Jersey-based Starfish Associates.
What Happened: Persistent Systems announced on Wednesday, its acquisition of Starfish Associates. This acquisition is set to enhance Persistent’s existing engineering capabilities in the contact centre and unified communications space, thereby expanding its AI-driven business transformation capabilities.
The total purchase consideration payable for the acquisition of Starfish is $20.7 million (around ₹171.8 crore). Founded in 2005, Starfish has developed an automation platform to help enterprises streamline the management of communication systems, including automated provisioning, self-service, resource management, and migration tools. The company is recognised for its advanced Enterprise Communications automation platform, serving many of the world’s largest enterprises, including several Fortune 500 companies.
Starfish’s revenue for the past three years is as follows:
- LTM (Last Twelve Months) March 2024: $8.2 million (around ₹68 crore)
- Calendar Year 2023: $7.0 million (around ₹58.1 crore)
- Calendar Year 2022: $7.0 million (around ₹58.1 crore)
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The merger brings together the innovative platform of Starfish Associates with Persistent’s leading AI-powered automation capabilities and a robust customer base. The company expect this to facilitate significant optimisations, improved workflow efficiencies, and agile responses to evolving business environments.
Sandeep Kalra, CEO, Persistent, expressed his excitement about the acquisition, stating that it would enable the company to assist its global clients in unlocking the full potential of AI-led innovations in their contact centres.
Co-founders of Starfish Associates, Robert Hankin and David Raanan, also conveyed their enthusiasm about joining Persistent, believing that it will enhance their capabilities in integration, automation, and AI-driven contact center transformation.
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