Persistent said that the CAPIOT acquisition would strengthen its ability to provide enterprise integration strategy and advisory services.
Persistent Systems on Thursday announced the acquisition of Palo Alto-based CAPIOT Software and its subsidiaries in Australia, India and Singapore.
In India, CAPIOT has offices in Bengaluru, Hyderabad, Mumbai and Pune and services customers such as HDFC Bank, Kotak Mahindra Bank, IDFC First Bank, Exide Life Insurance and BlueDart.
CAPIOT is a six-year-old company specialising in enterprise integration with expertise in MuleSoft, TIBCO, Red Hat and API-led integration capabilities. It works in the banking, financial services, insurance, retail, logistics and travel verticals.
Persistent said that the CAPIOT acquisition would strengthen its ability to provide enterprise integration strategy and advisory services. The company will be able to implement API-led integrations using specialists in the leading integration platforms coupled with frameworks and industry-specific common data models and also be able to provide managed integration services to support changing business needs and innovation.
Sandeep Kalra, ED and president of Persistent Systems, said for enterprise IT to succeed in advancing business goals and sales, it must have a central integration platform to work across disparate applications and data sources. “CAPIOT’s singular focus in enterprise integration with key platform players like MuleSoft and TIBCO coupled with proprietary frameworks and common data models have accelerated implementations, with many successful rollouts. Their strong history in enterprise integration will provide many of our clients an immediate benefit and will help us solidify our Salesforce ecosystem capabilities,” Kalra said.
Vasudeva Anumukonda, CEO of CAPIOT Software, said his company would bring their expertise in integrating cloud applications and data API offerings to further augment Persistent capabilities and provide broader solutions in an ever-changing landscape.
Persistent did not reveal the size of the deal. CAPIOT has a team of 300 with turnover of around $57 million.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
