Persistent buys Sureline Systems assets to boost cloud migration services

Pune based information technology (IT) services company Persistent Systems said it will acquire the assets of San Jose, California and Pune based Sureline Systems, a cloud migration and disaster recovery solutions provider.

As part of the transaction, Persistent will onboard select contracts, IP, employees and assets from Sureline, in a cash transaction with a maximum purchase value of $2.5 million, the company said in a regulatory filing.

The acquisition will help Persistent strengthen its cloud advisory services, cloud migration and modernization offerings and multi-cloud managed services, Ravi Mathi, principal practitioner at Persistent, said in a blog post. 

“In order to bolster our cloud transformation offerings and solutions, we’re excited to announce the acquisition of assets and a highly specialized team of cloud experts from Sureline Systems. This acquisition will reduce cloud migration costs and speed modernization from on-prem data centres to multi-cloud environments,” he said.   

Incorporated in 2010 by Ravender Goyal, Sureline Systems recorded revenues of $2.69 million for the calendar year 2020, according to the filing. 

In October 2020, Persistent Systems acquired enterprise software company CAPIOT for $6.34 million to ramp up its enterprise integration strategy offering. The company reported a 20.3% year-on-year growth in revenues for Q4 2020-21 at $152.82 million. The quarter ending March 31, 2021, saw PAT for the company grow by 64.3%, year-on-year.