Persistent Systems to acquire Citrix Systems' two product lines

NEW DELHI: IT firm Persistent Systems on Monday said it will acquire Citrix Systems' CloudPlatform and CloudPortal Business Manager product lines for an undisclosed sum.

"Persistent Systems Ltd, through its US subsidiary has signed an agreement with Citrix Systems International GMBH, a Swiss subsidiary of Citrix Systems, Inc., to acquire the Citrix CloudPlatform and CloudPortal Business Manager product lines in an asset purchase transaction," the company said in a BSE filing.

It further said: "These products will add to the portfolio of products of Accelerite, the products business of Persistent Systems."

The closing of the transaction is subject to customary closing conditions and expected to close in Persistent's fourth quarter ending March 31, 2016, the company added.

Persistent Systems shares were trading 1.38 per cent down at Rs 622 on the BSE.