Persistent to buy another Salesforce partner Youperience for up to $7.7 mn
Information technology (IT) firm Persistent Systems has said that it will acquire Germany-based Youperience GmbH for up to 6.8 million euros ($7.73 million or Rs 53.6 crore at current exchange rates) in an all-cash transaction. Youperience focuses on implementation services related to customer relationship manager Salesforce.
The acquisition of Youperience, in combination with previously bought Swiss company PARX, which is also a Salesforce partner, will further strengthen Persistent’s ability to provide better Salesforce outcomes to its global customers.
“The acquisition of Youperience strengthens our global strategic Salesforce practice in Europe, a very important growth market for us. With more than 1,000 Salesforce professionals, we are a global Salesforce boutique partner with scale, offering customers both business-focused consulting and excellent technical solutions," Christopher O'Connor, chief executive of Persistent Systems, said.
Youperience has 170 employees across four countries: Germany, Switzerland, Austria and France.
By Persistent’s filing to the BSE, the first tranche of the transaction will be 4.8 million euros, which represents the value of the company. Later, up to two million euros will be payable over two years, depending on the performance and retention of key management employees.
Last year in July, Persistent had bought PARX for $16 million, which is scheduled to be paid over the next three years from the date of acquisition.