Global digital engineering firm Persistent Systems seems to be going where the money is with its latest U.S. expansion: Wednesday’s opening of a new private equity “Value Creation Hub” in Plano.
The Pune, India-based company—which has a presence in seven other U.S. cities along with offices in Canada, Mexico, Costa Rica, and capitals across Europe and Asia—says its Plano hub “will expand the company’s onshore footprint and strengthen its presence in the rapidly evolving PE market by providing expertise across the full asset lifecycle for global PE firms and their portfolio companies.”
Accelerating ‘top line and efficiency-centric value creation’
Anand Deshpande (left), Persistent’s Founder, Chairman and Managing Director, and Sandeep Kalra, Persistent’s CEO and Executive Director, pour champagne at the opening of the new Plano PE Value Creation Hub. [Photo: Persistent]
Citing Dallas-Fort Worth’s prominence as the third-largest U.S. market for PE firms after New York and Chicago, Persistent said its new Plano hub “will help PE firms to accelerate both top line and efficiency-centric value creation levers for their portfolio companies. It will serve as a source of playbooks for secure corporate carve out, rapid globalization, cost rationalization, and product acceleration.”
With over 22,750 employees in 21 countries, Persistent delivers digital engineering and enterprise modernization services and solutions. Among its clients are 8 of the top 10 largest banks in the U.S. and India, the company says, along with “numerous innovators across the healthcare and software ecosystems.”
Persistent has over 100 North Texas employees, and the public company crossed the $1 billion mark in annual revenue in April, according to the Dallas Morning News.
Aiming to be a ‘prime value creation partner’
Lobby of Persistent Systems’ new Plano PE Value Creation Hub. [Photo: Persistent]
Punit Kulkarni, a Plano-based vice president serving as Persistent’s global private equity leader, spoke at Wednesday’s opening event.
“We’re excited to open our Value Creation Hub and expand our onshore capabilities to better serve our private equity clients across the globe,” Kulkarni said in a statement. “The maturity of our playbooks and exceptional talent will help position Persistent as a prime value creation partner, right from acquisition to divestiture. Our services and solutions for product and technology assets, backed by our bespoke partner ecosystem, enable us to deliver value at both scale and speed.”
The company said it has relationships with many of the world’s leading PE firms, with thousands of its technologists “delivering value to portfolio companies across technology, healthcare, banking, financial services, and communications segments.”
One of those private equity partners, James Markarian, CTO of California-based Marlin Equity Partners, believes the new Plano hub will be a “game changer.”
“With the rapidly growing and competitive environment, private equity firms need to redefine their growth levers and must continue to focus on new avenues to quickly create value from their investments,” Markarian said in a statement released by Persistent. “Persistent’s PE Value Creation Hub will certainly be a game changer as it brings together PE firms, portfolio companies, and ecosystem partners to drive transformative business outcomes.”
Lobby of Persistent Systems’ new Plano PE Value Creation Hub. [Photo: Persistent]
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