Pune-headquartered software services company Persistent Systems Ltd is acquiring Youperience, a European consulting partner of cloud and customer relationship management (CRM) software major Salesforce.
Germany-headquartered Youperience is being snapped up at an enterprise value of €4.8 million ($5.45 million or Rs 37 crore at the current exchange rate) in a cash deal, Persistent said in a stock-market disclosure. It will pay an additional €2 million over two years depending on Youperience's performance and retention of key management personnel, it added.
Persistent, through its subsidiary Persistent Systems Germany Gmbh, is also purchasing a 30% stake in Youperience's British affiliate Youperience Ltd as part of the deal.
The acquisition is expected to strengthen its Salesforce practice in Europe.
“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," said Persistent chief executive Christopher O'Connor.
Youperience has 170 employees across four countries: Germany, Switzerland, Austria and France.
This is the second European Salesforce partner being acquired by Persistent. In July 2017, Persistent had agreed to acquire Swiss firm Parx Werk AG to strengthen its expertise in Salesforce software.
Youperience, which was incorporated in 2017, has expertise in Salesforce marketing cloud, which pertains to digital marketing automation and analytics. It reported revenue of €2.8 million in the last fiscal year.
The transaction is expected to be completed in the next two weeks.
Founded in 1990 by Indian Institute of Technology-Kharagpur alumnus Anand Deshpande, Persistent develops software solutions for the telecom, banking and financial services, life sciences and healthcare sectors.
In July last year, Persistent invested an undisclosed sum in US-based Cazena Inc., which enables businesses to move and optimise Big Data processing in the cloud.
In 2016, it had acquired Australia-based PRM Cloud Solutions, another Salesforce partner.
In 2015, Persistent had made two acquisitions. It bought Ireland-based technology firm Aepona Holdings Ltd and US-based software company Akumina Inc’s content management services business.