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Persistent Systems Arm Acquires Cloud Platform Biz

10/12/2012 5:45 AM ET

Persistent Systems Ltd. said its step-down subsidiary in the US had signed a definitive agreement to acquire 'rCloud', an innovative cloud platform business, from Doyenz, Inc.

rCloud is a business continuity solution which provides backup and disaster recovery for physical and virtual servers on the cloud for SMBs.

The closing of the transaction is subject to satisfaction of customary conditions.

At the BSE, Persistent Systems are currently trading at Rs.428.30, up 1.21 percent from the previous close.

by RTT Staff Writer

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