Background: Incorporated in 1990, Persistent Systems is one of the leading outsourced product development (OPD) companies in India with revenues of INR 6.69bn in FY14 and a track record of over 3000 product releases in the last 5 years. The company's business is primarily classified into product engineering and platform solutions business (82%) & the IP -led business (18%). The company has domain expertise in Infrastructure and Systems (69.7%), Telecom (17.8%) and Life Sciences (12.5%) verticals. With a strong workforce of 7857 employees, the company serves over 350 customers, which include marquee names such as Microsoft,...