Persistent Systems to acquire some Citrix Systems cloud products

PERSISTENTPersistent Systems, a niche IT company that focuses on products and cloud computing, said it had signed an agreement to acquire the Citrix CloudPlatform and CloudPortal Business Manager product lines from Citrix Systems International GMBH, a subsidiary of Citrix Systems.

No financial details were revealed.

Citrix Systems is one of the biggest companies in the world focusing on cloud computing and virtualization, and had revenue in excess of $3 bln.

Persistent Systems, which is based in Pune, India, has a trackrecord of buying mature products from other companies and maintaining or improving them for sale with its own suite of products.

The Indian company has a suite of cloud-enabled, new generation products under its Accelerite brand, and the Citrix products will go into the same suite, it said.

Accelerite was recently spun off from the company as an independent business to increase the focus on the products business. Persistent started off as a services provider and continues to get most of its revenues from such.

The company offers solutions in Analytics, Big Data, Cloud Computing, Mobility and Social, for the telecommunications, life sciences, healthcare, and banking & financial services verticals.

The closing of the transaction is subject to customary closing conditions and is expected in Persistent’s fourth quarter ending March 31, 2016, it added.