Persistent Systems Strengthens Position with NCLT Approval of Capiot Software Merger
Persistent Systems Limited has received NCLT Mumbai's approval for merging its wholly-owned subsidiary, Capiot Software Private Limited. The merger, effective from April 1, 2024, aims to streamline operations, reduce costs, and enhance capabilities in the IT services sector. The consolidation is expected to simplify corporate structure, achieve synergies, and improve operational efficiency. The merger order includes directives on regulatory compliance and employee transfer terms.