Persistent Named as a Challenger in 2024 Gartner® Magic Quadrant™ for Public Cloud IT Transformation Services

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SANTA CLARA, Calif. and PUNE, India, Aug. 8, 2024 /PRNewswire/ -- Persistent Systems (BSE: 533179) (NSE: Persistent), a global pioneer in Digital Engineering and Enterprise Modernization, today announced that it has been named a Challenger for the second year in a row in the Gartner Magic Quadrant for Public Cloud IT Transformation Services, marking its fourth consecutive year of recognition in this report. We believe this recognition highlights Persistent's differentiated cloud expertise, including consulting, application development, migration, cybersecurity, and automation capabilities. The evaluation was based on Persistent's Ability to Execute and Completeness of Vision.

Persistent delivers a unique blend of deep business and domain expertise along with comprehensive relationship management, providing personalized, boutique-style client experiences. The Company's practitioner-led engagement model and the strategic use of AI and automation stack drive rapid time to value for clients. In addition, the Company's Digital Engineering heritage empowers clients to accelerate innovation at scale and undertake complex transformations using industry-specific templates.

As the ecosystem orchestrator of choice for clients, Persistent continues to expand its strategic partnerships with the leading hyperscalers. The Company recently entered into a Strategic Partnership Agreement with Google Cloud and has a Strategic Collaboration Agreement with AWS, showcasing Persistent's multi-cloud capabilities and commitment to delivering joint customized solutions with leading cloud providers that drive client success. The Company is scaling these partnerships by launching co-developed solutions that help clients adopt emerging technologies such as Generative AI (GenAI). For instance, Persistent launched a GenAI-powered Population Health Management (PHM) solution with Microsoft, highlighting the Company's dedication to innovation and catering to industry-specific needs. Additionally, nearly 8,000 employees at Persistent are certified across AWS, GCP, and Microsoft Azure, demonstrating the Company's investments in upskilling its talent base through tailored training in cloud technologies. Persistent is also placed in the Established player quadrant of Gartner Peer Insights™ "Voice of Customer" for Public Cloud IT Transformation Services.

"We are proud to be positioned as a Challenger by Gartner for the second year. We feel this recognition underscores our commitment to enabling clients' cloud-first strategies through cloud-native principles and our Digital Engineering heritage. Our application-centric approach, coupled with continuous practitioner engagement, ensures we align closely with clients' business objectives, translating them into robust application and data strategies. By leveraging GenAI, automation, and our market-leading IP and accelerators, we're increasing speed and efficiency for clients while evolving towards an AI-driven, platform-centric services model. As the ecosystem orchestrator of choice, we're dedicated to unlocking cloud's full potential and driving complex transformations. With our global talent, operational agility, and focus on long-term client relationships, we continue to deliver transformational outcomes in this dynamic landscape."

A Gartner Magic Quadrant is a culmination of research in a specific market, giving you a wide-angle view of the relative positions of the market's competitors. A Magic Quadrant provides a graphical competitive positioning of four types of technology providers, in markets where growth is high and provider differentiation is distinct: Leaders, Challengers, Visionaries, and Niche Players.

Gartner disclaimer

Gartner; Magic Quadrant for Public Cloud IT Transformation Services; Mark Ray, Craig Lowery, Tom Sieber, Christopher Wiles, William Maurer, Tobi Bet, Lydia Leong; 5 August 2024.

Gartner, Voice of the Customer for Public Cloud IT Transformation Services, Peer Contributors, 30 January 2024.

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About Persistent

Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization to businesses across industries. With over 23,500 employees located in 19 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including AI-enabled software engineering, product development, data and analytics, CX transformation, cloud computing, and intelligent automation. The Company has been recognized as the "Most Promising Company" of the Year by CNBC-TV18 at the 2023 India Business Leader Awards. As a participant of the United Nations Global Compact, Persistent is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals.

www.persistent.com

Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs.

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