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• Annual Report 2018-19
Shaping the future of software driven business
The subsidiary companies considered in consolidated financial statements are as follows:
Name of the subsidiary
Ownership Percentage as at
Country of
incorporation
March 31, 2019
March 31, 2018
Persistent Systems, Inc.
100%
100%
USA
Persistent Systems Pte Ltd.
100%
100% Singapore
Persistent Systems France SAS
100%
100%
France
Persistent Telecom Solutions Inc.
100%
100%
USA
Persistent Systems Malaysia Sdn. Bhd.
100%
100%
Malaysia
Akshat Corporation (d.b.a. RGen Solutions)
(Dissolved with effect from December 21, 2018)*
-
100%
USA
Aepona Holdings Limited
100%
100%
Ireland
Aepona Group Limited
100%
100%
Ireland
Aepona Limited
100%
100%
UK
Valista Limited
100%
100%
Ireland
Persistent Systems Lanka (Private) Limited
100%
100%
Sri Lanka
Persistent Systems Mexico, S.A. de C.V.
100%
100%
Mexico
Persistent Systems Israel Ltd.
100%
100%
Israel
Persistent Systems Germany GmbH
100%
100%
Germany
PARX Werk AG
100%
100% Switzerland
PARX Consulting GmbH
100%
100%
Germany
Herald Technologies Inc**
100%
-
USA
*Refer Note 42
**Refer note 45
Notes forming part of consolidated financial statements (Contd.)
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