Persistent Systems, a global company specializing in software product and technology services, announced that the company has entered into a stock purchase agreement with Altizon Systems. The company has decided to invest USD 100,000 by subscribing to the equity shares of Altizon in one or more tranches from time to time.

Immediately followed after entering into the above agreement, the company has also remitted its first tranche of investment to Altizon. Altizon is a Pune based product company focused on the Internet of Things (IoT).

Shares of the company gained Rs 20.45, or 1.56%, to settle at Rs 1,333. The total volume of shares traded was 4,782 at the BSE (Monday).