M&As add to the growth engine for Persistent Systems' stock: Brokerages

The stock remains one of the top picks among brokerages in the mid-cap IT space

In line with its strategy of tapping high growth markets and expanding its capabilities, mid-tier software services provider Persistent Systems made its fourth acquisition in the last seven months. Its latest buy for $71.7 million is MediaAgility, a Google Cloud premium partner. The transaction is valued at 2.8 times its enterprise value to revenue considering CY2021 financials. 

The acquisition will lead to setting up of a dedicated Google business unit which will offer solutions around the Google cloud ecosystem and is in line with the company’s strategy of adding relevant skills across key hyperscaler partners. Last month, the company had