Persistent Systems Limited has informed the Exchange regarding a press release dated March 05, 2026, titled "Persistent Opens Melbourne Innovation Center to Support Enterprise Modernization and AI Adoption".
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Persistent Systems has opened a new Melbourne Innovation Center to serve as a strategic hub for AI-driven enterprise modernization across Australia and New Zealand. The center will support the company's ANZ expansion strategy by offering AI-led modernization, cloud-native refactoring, data modernization, and platform transformation services. Persistent currently works with several ASX-listed companies in banking, manufacturing, and telecom. The company plans to hire local engineering and AI talent, run hackathons, and partner with universities to build a digital engineering talent pipeline. No specific revenue figures, contract values, or financial guidance changes were disclosed in the announcement.
This is a strategic expansion move rather than a material order or contract win, so the immediate impact on stock price is likely limited. However, it signals Persistent's continued investment in high-growth markets like ANZ and reinforces its AI-first positioning, which could support long-term revenue diversification.