Mumbai: Pune-based mid-size IT firm Persistent Systems<\/a> said on Thursday that it will acquire the business of Princeton, New Jersey-based Data Glove<\/a> Inc for a value of $90.5 million. 浦那孟买:中型公司持续的系统周四表示,将收购的业务普林斯顿,新泽西数据手套公司的价值为9050万美元。
Established in 2010, Data Glove is a global leader in transformative consulting services and business solutions with total annual revenue for year 2021 of $48.96 million and has over 700 employees worldwide. Data Glove brings capabilities across Microsoft Azure<\/a>, business applications and workplace offerings as a One Commercial Partner (OCP), the company said.
“As our clients continue their digital acceleration, cloud modernization and workforce productivity remain as critical as ever to sustaining competitive advantage and reducing costs. With the acquisition of Data Glove, we are forming a new Microsoft<\/a> business unit to enhance our partnership and expand our expertise in Azure-based digital transformation, enabling us to capture a larger share of this high growth market,” said Sandeep Kalra, chief executive officer, Persistent Systems.
“This acquisition also broadens our delivery capabilities with highly skilled talent, establishing a new nearshore delivery center in Costa Rica and expanding our presence in the US and India,” he added.
The deal value includes $50.69 million to sellers, subject to customary adjustments for working capital, debt and cash on closing. Founders of Data Glove Group will be eligible for a maximum earnout of $34.88 million over next two years, contingent on achievement of certain performance thresholds. Key employees of Data Glove Group will be eligible for an aggregate amount of $4.93 million over the next three years contingent on employment continuity and business performance.
“Over the past decade, Data Glove’s growth has been fueled by empowering our client’s digital transformation journeys and accelerating their transition to cloud, with a deep specialization in Microsoft. Becoming a part of Persistent, the global leader in Digital Engineering, will give us immediate scale and enable new opportunities for our clients, partners, and employees. Together, we will build an industry-leading Microsoft business unit to take our clients to the next level,” said Rajiv Korpal, Co-Founder, Data Glove.
According to IDC, the Cloud Professional Services market is estimated to reach $93.8 billion by 2025.
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成立于2010年,数据手套是一个全球领先的变革咨询服务和业务解决方案总年收入为4896万美元,2021年全球有超过700名员工。数据手套带来了能力微软Azure,业务应用程序和工作产品作为一个商业合作伙伴((OCP),该公司表示。
”我们的客户继续他们的数字加速度,云现代化和劳动力生产率保持一如既往的关键,保持竞争优势,降低成本。采集的数据手套,我们形成了一个新的微软业务部门加强合作,扩大我们的专长在基于azure数字转换,使我们能够获取更大份额的高增长市场,”首席执行官负责说,持续的系统。
卖家交易价值包括5069万美元,受习惯调整营运资本,债务和现金关闭。数据手套的创始人集团将有资格获得3488万美元的最大earnout在未来两年中,取决于成就的某些性能阈值。数据手套集团的关键员工将有资格获得一个总金额为493万美元在未来三年内视工作连续性和业务性能。
“在过去的十年中,数据手套的增长已经被赋予了我们的客户的数字转换旅程和加速过渡到云,在微软深度专业化。成为一个持久的一部分,全球领先的数字工程,将给我们直接的规模和启用新的机会为我们的客户、合作伙伴和员工。在一起,我们将建立一个行业领先的微软业务单元带我们的客户去下一个层次,“Rajiv Korpal说,联合创始人,数据手套。
根据IDC的数据,云计算专业服务市场预计到2025年将达到938亿美元。
Mumbai: Pune-based mid-size IT firm Persistent Systems<\/a> said on Thursday that it will acquire the business of Princeton, New Jersey-based Data Glove<\/a> Inc for a value of $90.5 million.
Established in 2010, Data Glove is a global leader in transformative consulting services and business solutions with total annual revenue for year 2021 of $48.96 million and has over 700 employees worldwide. Data Glove brings capabilities across Microsoft Azure<\/a>, business applications and workplace offerings as a One Commercial Partner (OCP), the company said.
“As our clients continue their digital acceleration, cloud modernization and workforce productivity remain as critical as ever to sustaining competitive advantage and reducing costs. With the acquisition of Data Glove, we are forming a new Microsoft<\/a> business unit to enhance our partnership and expand our expertise in Azure-based digital transformation, enabling us to capture a larger share of this high growth market,” said Sandeep Kalra, chief executive officer, Persistent Systems.
“This acquisition also broadens our delivery capabilities with highly skilled talent, establishing a new nearshore delivery center in Costa Rica and expanding our presence in the US and India,” he added.
The deal value includes $50.69 million to sellers, subject to customary adjustments for working capital, debt and cash on closing. Founders of Data Glove Group will be eligible for a maximum earnout of $34.88 million over next two years, contingent on achievement of certain performance thresholds. Key employees of Data Glove Group will be eligible for an aggregate amount of $4.93 million over the next three years contingent on employment continuity and business performance.
“Over the past decade, Data Glove’s growth has been fueled by empowering our client’s digital transformation journeys and accelerating their transition to cloud, with a deep specialization in Microsoft. Becoming a part of Persistent, the global leader in Digital Engineering, will give us immediate scale and enable new opportunities for our clients, partners, and employees. Together, we will build an industry-leading Microsoft business unit to take our clients to the next level,” said Rajiv Korpal, Co-Founder, Data Glove.
According to IDC, the Cloud Professional Services market is estimated to reach $93.8 billion by 2025.
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