- Persistent Systems Ltd. announced on September 30 that it plans to acquire Arrka, a Pune-based company specializing in data privacy services. This strategic move aims to bolster Persistent’s capabilities in AI-led, platform-driven services, particularly within the realm of digital governance.
- The financial details of the acquisition have not been made public, but it is expected to significantly enhance Persistent’s offerings in digital governance, an area that has gained importance with the increasing adoption of AI across various sectors.
- Persistent Systems emphasized the growing necessity for digital governance and responsible AI practices in today’s enterprise landscape. The company outlined its commitment to addressing these needs through investments in platforms like SASVA and strategic acquisitions like Starfish Associates.
- Arrka is known for its innovative data privacy management platform, which helps organizations manage privacy risks and comply with various legal frameworks. Its integration into Persistent is expected to scale AI capabilities and broaden offerings in areas such as AI governance, data privacy management, and AI systems auditing.
- Sandeep Kalra, CEO and Executive Director of Persistent, stated that Arrka’s acquisition aligns with the company’s vision to deliver AI-driven services while ensuring data privacy, ethics, and compliance. Shivangi Nadkarni, Co-Founder of Arrka, expressed excitement about transitioning from a boutique business to a global player in digital governance with Persistent’s resources.
- Following the announcement, shares of Persistent Systems traded 0.33% higher on the BSE, reaching ₹5,454.40 around 10:40 am. This indicates positive market sentiment regarding the acquisition and highlights the company’s focus on enhancing service offerings in data privacy and governance.
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