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    Persistent Systems to set up new subsidiaries; expects 15% growth from IBM Watson alliance

    Synopsis

    Persistent Systems today said that the alliance with IBM Watson announced last week could add up to 15-20% to the company’s revenue in FY17 over the FY16 base.

    ET Bureau
    PUNE: Persistent Systems today said that the alliance with IBM Watson announced last week could add up to 15-20% to the company’s revenue in FY17 over the FY16 base. This alliance will help Persistent realise its ambitions of becoming a global company. Anand Deshpande, CEO, Persistent Systems, said, “This alliance with IBM will change us from being an outsourced products company to a global company focussed on technology development." It will be setting up new subsidiaries in Mexico and Israel, along with expanding its presence in North America and Europe. Persistent currently has 1000 people working on IBM platforms and it will be adding another 500 people to it, including existing IBM and Persistent employees.

    While announcing this alliance, Deshpande had said that the company would be investing in the IBM platforms for continuous engineering and continuous lifecycle management to realise the idea of software driven things. This is a preferred alliance where IBM would take Persistent’s solutions and services to Industry 4.0 customers to drive digital transformation.

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    The company announced a new business structure focusing on four growth verticals today, and the IBM alliance will be a key part of this strategy going forward.

    ( Originally published on Mar 21, 2016 )
    The Economic Times

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