Persistent Systems sees SMAC as driving force in future

BENGALURU: Mid-tier IT company Persistent Systems plans to completely shift out of the commoditised IT services business as it sees social, mobile, analytics and cloud ( SMAC) driving the growth in future.

The Pune-based company, which reported revenue of $76.32 million (about Rs 457.9 crore) in the quarter to September, is looking to completely move to SMAC.

“Already about 50% of our revenue comes from cloud,” company COO Mrityunjay Singh said. “This is the fastest growing segment for us, growing 20% year-over-year and we see this as the future.

As more and more devices connect to the Internet, there’ll be a lot of data they’ll generate. Our investments are about visualising the world from these devices and how can we as a company play a role in this new world,” Singh said.

Persistent reported a 17.3% jump in second quarter net profit to Rs 71.3 crore with its focus on digital transformation projects.

Big data analytics, cloud, social, mobility, Internet-of-Things and gesture-based computing are some of the areas that Persistent feels will be the future of technology. The company is also investing into design capabilities to ensure that applications created for newer devices such as Google Glass, smart watches and different mobile devices work in a completely different way.