PUNE, INDIA and SANTA CLARA, CA -- (Marketwire) -- Jan 16, 2013 -- Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT), the global leader in software product and technology services, today announced it has entered into a definitive agreement to acquire privately-held NovaQuest, a Product Lifecycle Management (PLM) and Search Based technology solutions company and a leading Value Added Reseller (VAR) and services provider of Dassault Systèmes' 3DEXPERIENCE platform and applications. With this acquisition, Persistent Systems enters into a strategic partnership with Dassault Systèmes to sell and offer support, maintenance and deployment services as an authorized VAR for Dassault Systèmes' in the United States. Terms of the acquisition were not disclosed.

The acquisition furthers Persistent Systems' objectives in expanding its PLM practice, strengthening its existing partnership with Dassault Systèmes, and growing its North American footprint. Headquartered in Charlotte, North Carolina, NovaQuest's team of about 20 seasoned PLM specialists have joined Persistent Systems to expand the Company's expertise in 3DEXPERIENCE and PLM applications and to support a growing client base across the aerospace, automotive, business services, consumer goods, energy, industrial equipment, life sciences, high tech and government verticals.

"Persistent Systems and Dassault Systèmes have developed a strong partnership, and now with the acquisition of NovaQuest, we are further able to expand our relationship and support for Dassault Systèmes applications, as well as grow our PLM business across new industry verticals," said Hari Haran, President, Persistent Systems Inc. "NovaQuest brings a proven track record of successfully helping companies with knowledge capture and better decision-making and we look forward to continuing to serve and add value to NovaQuest's customers. We are delighted to have the NovaQuest team of experts join the Company and, as a Dassault Systèmes VAR, we look forward to helping companies increase their adoption and extract the maximum value from their Dassault Systèmes investments."

"Persistent Systems brings significant value to the Dassault Systèmes community and we are pleased to partner with them," said Bruno Latchague, Executive Vice President of Value Solutions and Managing Director of North America for Dassault Systèmes. "Their deep expertise in product development and technology services, combined with NovaQuest's knowledge of Dassault Systèmes solutions, will help companies compete more effectively by transforming their innovation processes."

About Persistent Systems:
Established in 1990, Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT) is a global company specializing in software product and technology services. For more than two decades, Persistent has been an innovation partner for the world's largest technology brands, leading enterprises and pioneering start-ups. With a global team of more than 6,000 employees, Persistent has 300 customers spread across North America, Europe, and Asia. Today, Persistent focuses on developing best-in-class solutions in four key next-generation technology areas: Cloud Computing, Mobility, Analytics and Collaboration, for telecommunications, life sciences, consumer packaged goods, banking & financial services and healthcare verticals. For more information, please visit: http://www.persistentsys.com.

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit:
www.persistentsys.com/Portals/0/forward_looking_cautionary_statement.shtml

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Rashmi Joshi 
Persistent Systems Ltd. 
Tel: 91 83083 39400 
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Ilona Mohacsi
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