Friday, 24 March, 2023

Persistent Systems to invest $90.5M for Data Glove's asset

<p>Pune-based IT firm Persistent Systems said that it will acquire the New Jersey-based Data Glove Inc for a value of $90.5M. Persistent will buy Data Glove&#39;s assets in the US, as well as its Indian subsidiary and businesses in Australia, UK, Canada, and Singapore. Persistent Systems Germany GmbH will also buy Data Glove&#39;s Costa Rican affiliate. A $50.69M upfront payment will be made, with another $34.88M paid over the next two years if performance targets are met.</p>