Persistent Systems to acquire CAPIOT Software

Persistent Systems announced it has agreed to acquire Palo Alto-based CAPIOT Software and its subsidiaries in Australia, India and Singapore.
Persistent Systems IT businessCAPIOT India has offices in Bengaluru, Hyderabad, Mumbai and Pune and services customers such as HDFC Bank, Kotak Mahindra Bank, IDFC First Bank, Exide Life Insurance and BlueDart.

CAPIOT is a six-year-old company specializing in enterprise integration with expertise in MuleSoft, TIBCO, Red Hat and API-led integration capabilities. It works in the banking, financial services, insurance, retail, logistics and travel verticals.

Persistent said that the CAPIOT acquisition would strengthen its ability to provide enterprise integration strategy and advisory services.

The company will be able to implement API-led integrations using specialists in integration platforms coupled with frameworks and industry-specific common data models and also be able to provide managed integration services to support changing business needs and innovation.

Persistent Systems did not reveal the size of the deal to buy Capiot. CAPIOT has a team of 300 with turnover of around $57 million.