Persistent Systems Limited is an Indian multinational technology company based in Pune. Founded in 1990, it provides information technology and software engineering services.[4]
History
Persistent Systems was founded in 1990 by Anand Deshpande, a former Hewlett-Packard employee, with an investment of $21,000. In 2000, Intel Capital invested $1 million in the company for a 3.5% stake.[5] In 2005, Persistent raised $18.8 million from Norwest Venture Partners and Gabriel Venture Partners.[6]
Persistent Systems was listed on the National Stock Exchange of India and Bombay Stock Exchange in March 2010 after its initial public offering.[7]