Persistent Systems acquires US based Herald Technologies

Pune based Persistent Systems said that it had acquired Herald Technologies, a US based healthtech startup for an enterprise valuation of $5.2mn.

The company is working on implementation of platforms and related IT services for the healthcare industry, which is an important area of focus for Persistent Systems.

The acquisition was done by the company’s US subsidiary, Persistent Systems Inc. While $2.3 million has been paid upfront, the balance $2.9mn would be a deferred payment, payable to management employees over a three-year period contingent on performance and retention of these management employees.


The acquisition would strengthen Persistent's IP led offerings in the healthcare domain and create a number of cross-sell opportunities, the company said in a statement.

Incorporated in 2015, Herald has developed a unique software platform and customizable healthcare protocols that augment existing workflows in hospital operations. This workflow optimization can result into substantial increase in hospital revenues, said the company. Herald’s approximate revenue for FY18 was estimated to be $65,000.