Persistent Systems Ltd (PSL) has announced the $71.7 million acquisition of Google Cloud premium partner MediaAgility. The acquisition will help Google Cloud partners ramp up and deepen their relationships, scale new offerings, expand the company's client base, and gain access to a talent pool.
This transaction will enable PSL to expand its Google Cloud practise in the future. Though the acquisition would have no impact on EBITDA margins, intangible amortisation expenses would reduce EBIT margins by 45-50 basis points in FY2023. Synergies are expected to reduce margin dilution over time.
Given building more growth avenues via tuck-in acquisitions, robust execution, and broad-based demand, a brokerage firm has maintained a Buy on PSL with a target price of
Rs. 5,550 (+25%).
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