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Persistent Systems Ltd. Company History and Annual Growth Details

Our Company was incorporated as Persistent Systems Private Limited on May 30, 1990. Our Company wassubsequently converted into a public limited company on September 17, 2007 with the name Persistent SystemsLimited and a new certificate of incorporation was issued on September 28, 2007 from the RoC.

Changes in Registered Office

The registered office of our Company was changed from =Renuka, 39/54, Erandvana, Lane 9B, Prabhat Road,Pune 411 004 to =Panini, 2 A, Senapati Bapat Road, Pune 411 016 with effect from May 4, 2000 pursuant to a resolution of the Board dated May 5, 2000 and subsequently, our registered office was changed to its present location being =Bhageerath, 402, Senapati Bapat Road, Pune 411 016 with effect from October 19, 2001 pursuant to a resolution of the Board on October 19, 2001. The changes in registered office were for administrative reasons.

Key events and milestones

Fiscal Event

2009-10 Received DIN EN ISO 9001:2008 certification for the software design, development, testing, support, enhancement services for the ChemLMS Product

2009-10 Acquired certain assets of Paxonix, Inc., a subsidiary of MeadWestvaco Corporation through the wholly owned subsidiary of our Company viz. Persistent Systems, Inc.

2008-09 Formed a public charitable institute, Persistent Foundation to institutionalise our Corporate Social Responsibility initiative

2008-09 Formed a wholly owned Subsidiary, Persistent Systems and Solutions Limited in Pune, India

2008-09 Set up a branch office at Quebec, Canada

2007-08 Received an ISO27001:2005 Certification for Pune (except Hinjewadi), Nagpur and Goa

2007-08 Set up branch offices at Ottawa and Vancouver, Canada

2007-08 Formed a wholly owned subsidiary, Persistent Systems Pte. Ltd. in Singapore

2007-08 Opened a branch office at Rotterdam, The Netherlands

2007-08 Signed an asset purchase and sale agreement with Metrikus (India) Private Limited, Hyderabad, India and accordingly set up Hyderabad branch office

2007-08 Converted into a public limited company by a special resolution passed at the EGM held on September 17, 2007. The fresh certificate of incorporation consequent on conversion was issued to our Company on September 28, 2007 by the RoC

2006-07 Became a =Search Appliance Partner for Google Inc.

2005-06 Investment by Intel Mauritius

2005-06 Joint investment by Norwest and Gabriel

2005-06 Started operations at =Pingala-Aryabhata, new owned premises at Pune, India

2005-06 Acquired Goa based ControlNet (India) Private Limited

2004-05 Set up a branch office at Tokyo, Japan

2004-05 Joined Microsoft RFID partners council

2003-04 Development center at Nagpur, India became operational

2003-04 Set up a branch office at Edinburgh, Scotland, UK

2001-02 Started operations at =Bhageerath new state-of-the-art owned premises at Pune, India

2001-02 Appointed three Independent Directors on the Board

2001-02 Set up Persistent Systems, Inc., our wholly owned subsidiary in U.S.A.

2000-01 Investment by Intel 64 LLC

1999-00 Introduced employees stock options scheme

1998-99 Started operations at =Panini new owned premises at Pune, India

1990-91 Incorporated on May 30, 1990

Awards and accreditations

Fiscal Award/Accreditation

2009 Featured in the Delloitte Technology Fast 500 Asia Pacific 2009 Ranking

2009 Won the NASSCOM Innovation Award for 2008, in the .Market Facing C Business Process and Business Model category

2009 Won the Institute of Chartered Accountants of India (DICAI) Award for excellence in financial reporting

2009 Ranked 9th on Fast Companys Fast 50 Readers Favorites of 2008 in the companies using .business as a force of positive change and helping its customers

2009 Ranked as a Top Twelve IT Outsourcing Vendor of manufacturing and supply chain services to the life sciences market

2008 Ranked 40th as per total income, in Dun and Bradstreet's India's Top IT Companies 2008

2007 Received the IT Enterprise (Special Awards) for the Maharashtra Information Technology Award for the year 2007 from Government of Maharashtra for our Nagpur unit

2007 Ranked amongst the top 500 companies in the .Deloitte Technology Fast 500 Asia Pacific 2007 report

2007 Winner of the .Red Herring 100 Global award 2007

2007 Won Market Growth Strategy Award for OPD Market for the FY 2007 for Mid-market

2007 Ranked 84th in .Electronics For You CTop 100 Companies based on revenue

2006 Ranked 37th among the top 50 fastest growing Indian technology companies by Deloitte Touch, Asia Pacific, 2006

2005 Ranked as the 22nd fastest growing Indian technology company as per .Technology Fast 500 Asia Pacific Ranking and CEO Survey 2005 Report by Deloitte

2005 Our Company joins the Microsoft RFID partners council

2004 Ranked as the 11th fastest growing Indian company in the .Technology Fast 500 Asia Pacific 2004 Winner Report of Deloitte

2003 Microsoft award on outstanding contribution to the Microsoft Development Network Community, 2003

2002-03 Our product DEnList Report Server wins CSI-Infosys Award 2001 for best shrink-wrapped software product

2000 Became one of the first companies in Asia to receive an investment from Intel 64 LLC

1998 and 1999 Recognised as a Microsoft Solution Provider for demonstrated expertise and commitment to providing business solutions based on Microsoft products

1996-97 Received the First Prize from Government of Maharashtra, Small Scale Division for Export performance during 1996-97

1992-93 Received the First Prize from Government of Maharashtra, Small Scale Division for Export performance during 1992-93

- Persistent Systems Ltd has appointed Mr. Prakash Telang and Mr. Kiran Umrootkar as Additional Directors of the Company with effect from August 19, 2010, to hold office upto the date of the next Annual General Meeting of the Company.