PERSISTENT SYSTEMS ACQUIRES METRIKUS (INDIA) ASSETS

PERSISTENT SYSTEMS ACQUIRES METRIKUS (INDIA) ASSETS

Establishes footprint in Hyderabad

INDIA, Mumbai (July 10th 2007) – Persistent Systems, a leading provider of Outsourced Software Product Development services, today announced the acquisition of assets of Metrikus (India) Pvt. Ltd., a subsidiary of privately held Metrikus Inc., USA. Through this acquisition, Persistent Systems and Metrikus, Inc. have entered into a revenue sharing agreement to jointly market business intelligence solutions. All of Metrikus India’s employees are now part of Persistent Systems family.

The acquisition has enabled Persistent Systems to establish a foothold in the major IT hub of Hyderabad and provide better support to customers who have their captive centers in the region.

Elaborating, Dr. Deshpande said, “This acquisition allows us to not only bring on board the expertise of a team that has a strong foothold in the BI solutions arena but also equips us with a better understanding of the market since both Metrikus & Persistent Systems have been active players in the space for some years now.”

Business Intelligence is an umbrella term for a set of tools and applications that allow corporate decision makers to gather, organise, distribute, and act on critical business information. These products provide a unified view into the outsourced business processes driven by SLAs and metrics, enabling management to gain end-to-end real-time visibility thereby meeting business objectives.

About Persistent Systems

Persistent Systems (www.persistentsys.com) pioneered the offshore centric software product development model seventeen years ago, and has since established an impeccable delivery record with over 170 Global Software companies worldwide and 1000 + product releases

Persistent is one of the few companies that focuses exclusively on Software Product Development and over the years has developed processes and capabilities to service customers ranging from Fortune 500 companies to companies that are in the start-up phase.

Today, Persistent is recognized as a leader in Outsourced Product Development, offering the most comprehensive range of services?from Concept and Development to Support and Maintenance?with a view to help its customers increase efficiency, shrink time to market, reduce costs and leverage cutting edge skills.

Persistent Systems has been ranked amongst the fastest growing Indian company in the Technology Fast 500 Asia Pacific 2006 report of Deloitte and has been classified as an “Inventor and Product Development specialist” by Forrester Research.

Forward Looking Information

Certain information in this news release is forward-looking and subject to risks and uncertainties. The results or events predicted in this information may differ from actual results or events. Factors which could cause actual results or events may differ materially from current expectations