IT Firm Persistent Systems To Buy Youperience For Up To Rs 53 Crore
IT firm Persistent Systems Ltd.'s on Tuesday said its German subsidiary will acquire Youperience GmbH for up to 6.8 million euros (about Rs 53.6 crore).
Youperience is focused on Salesforce-related implementation services. Its revenues were estimated to be 3.5 million euros for the 12 months ended March 31.
"The proposed acquisition strengthens Persistent's Salesforce practice in Europe and in the Salesforce Marketing Cloud domain," Persistent Systems said in a BSE filing.
The enterprise value payable for the acquisition of 100 percent shares of Youperience is about 4.8 million euros. "Additionally, an amount up to 2 million euros to be payable over two years, is contingent on performance and retention of key management employees," the Persistent Systems filing said.
The consideration would be in cash.
"Persistent Systems Germany GmbH, through this acquisition of Youperience, has also acquired 30 percent shareholding in Youperience Ltd., UK, an affiliate of Youperience as a part of this deal structure," the filing said.