Company Announcements

Strengthens Persistent's focus on AI-led transformation for private equity firms and their portfolio companies

SANTA CLARA, Calif. and PUNE, India, March 20, 2026 /PRNewswire/ -- Persistent Systems (BSE: 533179) (NSE: PERSISTENT), a global leader in Digital Engineering and Enterprise Modernization, today announced the appointment of Hari S. Abhyankar as Executive Vice President and Global Head of Private Equity and Professional Services.

As private equity firms compress value-creation cycles and place greater emphasis on AI-led transformation, the need for execution partners who can deliver results at speed is increasing. Persistent is scaling its focus in this segment, bringing together its engineering-led capabilities, AI expertise and platform-driven approach to support investors and their portfolio companies from diligence through value realization.

In this role, Hari will lead Persistent's global strategy and growth across private equity investors, their portfolio companies and professional services organizations. He will work closely with clients to accelerate revenue growth, enable platform modernization and drive faster realization of transformation priorities across portfolios, while also expanding EBITDA through improved operational efficiency and value creation.

Hari brings over 25 years of experience at the intersection of strategy, technology and business transformation. He previously served as a Partner at McKinsey & Company, advising leading technology companies and global enterprises on corporate strategy, large-scale transformation and revenue acceleration initiatives. Following his tenure at McKinsey, he worked with AI-native startups, focusing on scaling technology-led innovation and next-generation operating models. He has also held senior leadership roles at Interpublic Group and Digitas, where he built and led analytics, digital strategy and data-driven marketing organizations serving global technology and enterprise clients. Hari holds a PhD in Operations Management from the MIT Sloan School of Management.

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent

"Private equity is a strategic growth engine for Persistent. As investors push for faster value creation across their portfolios, the ability to move from strategy to execution at speed becomes critical. This is where Persistent stands apart. We combine engineering depth, AI-led platforms and execution discipline to deliver results that matter, from accelerating growth to improving operating margins and enabling exit readiness. Hari's experience strengthens our ability to deepen our engagement with private equity firms and drive sustained performance across their portfolios."

Hari S. Abhyankar, Executive Vice President and Global Head of Private Equity and Professional Services, Persistent

" Private equity firms are operating in an environment where value creation needs to be faster, more predictable and more technology-driven than ever before. This requires a fundamentally different approach, one that integrates strategy with execution and scales results across the portfolio. Persistent's engineering-led DNA and focus on AI-driven transformation position it strongly to address this need. I look forward to working with our clients and partners to accelerate portfolio performance and deliver measurable business results."

About Persistent

Persistent Systems (BSE: 533179 and NSE: PERSISTENT) is a global services and solutions company delivering AI-led, platform-driven Digital Engineering and Enterprise Modernization to businesses across industries. With over 26,500 employees located in 18 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including software engineering, product development, data and analytics, CX transformation, cloud computing, and intelligent automation. The Company is part of the MSCI India Index and is included in key indices of the National Stock Exchange of India, including the Nifty Midcap 50, Nifty IT, and Nifty MidCap Liquid 15, as well as several on the BSE such as the S&P BSE 100 and S&P BSE SENSEX Next 50. Persistent is also a constituent of the Dow Jones Sustainability World Index. The Company has achieved carbon neutrality, reinforcing its commitment to sustainability and responsible business practices. Persistent has also been named one of America's Greatest Workplaces for Inclusion & Diversity 2025 by Newsweek and Plant A Insights Group. As a participant of the United Nations Global Compact, the Company 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. With 468% growth in brand value since 2020, Persistent is the fastest-growing IT services brand in 'Brand Finance India 100' 2025 Report. 
www.persistent.com

Forward-looking and Cautionary Statements
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