Persistent System’s subsidiary signs pact with Parx Werk AG
DSIJ Intelligence / 01 Aug 2017
Persistent System’s wholly-owned subsidiary, Persistent Systems Germany GmbH, has signed an agreement with Parx Werk AG, Switzerland on July 21, 2017.
Persistent System’s wholly-owned subsidiary, Persistent Systems Germany GmbH, has signed an agreement with Parx Werk AG, Switzerland on July 21, 2017.
The objective of the agreement is to acquire PARX, a sales-force certified platinum partner in the DACH region. The acquisition was subject to customary closing that was expected to get completed within 3-4 weeks. On contractual terms, the company completed the acquisition of PARX on Tuesday.
Meanwhile, the stock gained 0.45% at Rs 647.45 per share on the BSE at 0943 hours. The stock on NSE attracted a traded volume of 2,318 shares and a traded value of Rs 15.03 lakhs.
The company has been maintaining a dividend payout of 22.08%. On a yearly basis, the stock has given (4.45%) returns.
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