Persistent Systems of Pune, India, has acquired PARX Werk, a leading Salesforce Certified Platinum Partner across Germany, Austria and Switzerland (known as the DACH market). It's the latest in a growing wave M&A deals in the Salesforce cloud services consulting partner ecosystem.
According to Deal Street Asia, Persistent is paying about 16 million Swiss francs ($17 million) for PARX. Slight more than half of that sum will be paid up front. The rest will be paid incrementally over three years -- based on performance and retention of management employees, the report said.
"PARX is particularly compelling because of its exclusive focus on born-in-the-cloud platforms and technologies with no footprint in legacy technologies or services," said Sudhir Kulkarni (pictured above), president of digital at Persistent Systems, in a prepared statement. "Bringing PARX into Persistent deepens our Salesforce expertise, further strengthening our global capabilities to deliver digital transformation for our customers."
Persistent has been expanding organically and via M&A over the past year. Indeed, the company recently opened development centers in Mexico, Israel and new locations in the U.S. And last year, Persistent acquired PRM Cloud Solutions, which claimed to be the leading Salesforce consulting partner in Australia.
Fast forward to present day, and Persistent is gaining a seasoned team in PARX -- which has implemented over 1000 projects -- though I don't know if they were all Salesforce-related.
Numerous Salesforce cloud consulting partners have been acquired in recent years. Among the leading buyers: Accenture has acquired seven Salesforce partners since 2014, that company reports.