Technology Holdings is pleased to announce that our client PARX has been acquired by Persistent Systems.
PARX is a Platinum Salesforce Consulting Partner and a leading provider of Salesforce cloud services in Germany and Switzerland. Technology Holdings was the exclusive advisor to PARX on the transaction.
PARX is focused on born-in-the-cloud platforms and technologies with no footprint in legacy technologies. It has successfully digitalized business processes in companies, in an array of industries, implementing over 1000 projects. Persistent Systems is a leading technology services provider that builds software which is at the core of its clients’ digital transformation. PARX’s deep domain expertise in cloud enablement and digital transformation provide compelling synergies to Persistent Systems. PARX’s European presence and strong local market knowhow gives Persistent Systems entry into new markets.
Anand Deshpande, Founder & CEO of Persistent Systems said, “Data, digital, IOT and platforms are the foundation of software-driven businesses. PARX brings a deep business domain understanding that complements our technology expertise. This strengthens our presence in DACH and across Europe.”
Sudhir Kulkarni, President of Digital at Persistent Systems said, “PARX is particularly compelling because of its exclusive focus on born-in-the-cloud platforms and technologies with no footprint in legacy technologies or services. Bringing PARX into Persistent deepens our Salesforce expertise, further strengthening our global capabilities to deliver digital transformation for our customers.”
PARX, CEO & Managing Partner Silvio Galfetti said, “This is a great opportunity for our employees and our customers to leverage the global strength and digitalization expertise of a company like Persistent. As importantly for us, the values that are imbued throughout Persistent are ones we share. This is an exciting day for PARX.”
"We selected Technology Holdings because of their global presence and their impressive track record in our industry. In Technology Holdings, we found an advisor who thoroughly understood our company and our proposition. The Information Memorandum that you prepared effectively brought out our unique value proposition and capabilities. You brought us access to all the relevant strategic buyers in Europe, Asia and North America, which led to us receiving 7 offers! We are also very pleased with the support that you gave us at every step of the process, including through due diligence, negotiations and all the way to closing. In all, we are very happy with our decision to have chosen you as our advisor and would be happy to recommend you to any company considering a strategic sale."