NEW DELHI: IT firm Persistent Systems Tuesday said its German subsidiary will acquire Youperience GmbH for up to 6.8 million euros (about Rs 53.6 crore).
Youperience GmbH 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 filing added that the enterprise value payable for the acquisition of 100 per cent shares of Youperience is about 4.8 million euros.
“Additionally, an amount up to 2 million euros to be payable over two years, which is contingent on performance and retention of key management employees,” the filing said.
The consideration would be in cash.
“Persistent Systems Germany GmbH, through this acquisition of Youperience, has also acquired 30 per cent shareholding in Youperience Ltd, UK, affiliate of Youperience as a part of this deal structure,” the filing said.
Source: Economic Times