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Recognized for excellence in executive leadership, financial stewardship and investor relations engagement
SANTA CLARA, Calif. and PUNE, India, May 18, 2026 /PRNewswire/ -- Persistent Systems (BSE: 533179) (NSE: PERSISTENT), a global Digital Engineering and Enterprise Modernization leader, today announced that it has been recognized in the 2026 Extel Asia Executive Team survey, earning the prestigious distinction of 'Most Honored Company' and continuing its strong performance in the survey for the third consecutive year.
The Company earned top rankings across multiple categories in both the pan-Asia and Asia excluding Mainland China results, further reinforcing its growing credibility among the global investment community. Persistent secured the following rankings in Asia, excluding Mainland China, for the Technology, IT Services, Software & AI industry:
- Sandeep Kalra, Chief Executive Officer and Executive Director, ranked first in the Best CEO category (combined, buy side and sell side)
- Persistent's Investor Relations Program ranked first (sell side)
- Vinit Teredesai, Chief Financial Officer and Executive Director, ranked second in the Best CFO category (combined and buy side)
The recognition reflects Persistent's continued focus on strong corporate governance, transparent stakeholder engagement, disciplined execution and sustained business performance. The rankings highlight the Company's strength across key survey parameters such as leadership credibility, communication, financial stewardship, capital allocation, accessibility of senior executives, responsiveness to investors and analysts and consistency and transparency of financial disclosures.
Extel is known for its independent research and rankings on corporate leadership, investor relations programs, governance and financial communications. For over five decades, its surveys have been a benchmark for the global investment community. This year, more than 5,500 institutional investors and analysts evaluated over 2,500 companies and 2,700 executives across Asia. Persistent had also secured top rankings in the 2025 and 2024 editions of the survey.
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent
"Consistent recognition in the Extel rankings reflects the trust and confidence that investors and analysts continue to place in Persistent. We are grateful for their support and committed to strong governance, disciplined execution and delivering differentiated value to our clients. As the technology landscape continues to evolve, we remain focused on building a resilient, future-ready business that scales with purpose and agility, while driving sustained long-term value for all our stakeholders."
About Persistent
Persistent Systems (BSE: 533179) (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 27,500 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
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs
Recognized for excellence in executive leadership, financial stewardship and investor relations engagement
SANTA CLARA, Calif. and PUNE, India, May 18, 2026 /PRNewswire/ -- Persistent Systems (BSE: 533179) (NSE: PERSISTENT), a global Digital Engineering and Enterprise Modernization leader, today announced that it has been recognized in the 2026 Extel Asia Executive Team survey, earning the prestigious distinction of 'Most Honored Company' and continuing its strong performance in the survey for the third consecutive year.
The Company earned top rankings across multiple categories in both the pan-Asia and Asia excluding Mainland China results, further reinforcing its growing credibility among the global investment community. Persistent secured the following rankings in Asia, excluding Mainland China, for the Technology, IT Services, Software & AI industry:
- Sandeep Kalra, Chief Executive Officer and Executive Director, ranked first in the Best CEO category (combined, buy side and sell side)
- Persistent's Investor Relations Program ranked first (sell side)
- Vinit Teredesai, Chief Financial Officer and Executive Director, ranked second in the Best CFO category (combined and buy side)
The recognition reflects Persistent's continued focus on strong corporate governance, transparent stakeholder engagement, disciplined execution and sustained business performance. The rankings highlight the Company's strength across key survey parameters such as leadership credibility, communication, financial stewardship, capital allocation, accessibility of senior executives, responsiveness to investors and analysts and consistency and transparency of financial disclosures.
Extel is known for its independent research and rankings on corporate leadership, investor relations programs, governance and financial communications. For over five decades, its surveys have been a benchmark for the global investment community. This year, more than 5,500 institutional investors and analysts evaluated over 2,500 companies and 2,700 executives across Asia. Persistent had also secured top rankings in the 2025 and 2024 editions of the survey.
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent
"Consistent recognition in the Extel rankings reflects the trust and confidence that investors and analysts continue to place in Persistent. We are grateful for their support and committed to strong governance, disciplined execution and delivering differentiated value to our clients. As the technology landscape continues to evolve, we remain focused on building a resilient, future-ready business that scales with purpose and agility, while driving sustained long-term value for all our stakeholders."
About Persistent
Persistent Systems (BSE: 533179) (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 27,500 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
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs
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Persistent Earns Top Honors for the Third Consecutive Year in Extel's 2026 Asia Executive Team Survey
Strategic Partnership to Accelerate Growth in Saudi Arabia and Across the MENA Region
AMMAN, Jordan and RIYADH, Saudi Arabia, May 18, 2026 /PRNewswire/ -- MS Pharma today announced that Olayan Financing Company (OFC) has made a minority equity investment in the company. This partnership brings strategic depth to MS Pharma's next phase of growth, underscoring its commitment to innovation, regional expansion, and long-term value creation. It also marks the beginning of a long-term partnership between OFC and MS Pharma's existing majority shareholders, who have distinguished themselves through decades of leadership and excellence in the pharmaceutical sector.
The transaction involves MS Pharma issuing new share capital in exchange for a substantial cash investment from OFC, resulting in OFC acquiring a minority stake in the company.
The investment strengthens MS Pharma's financial position and flexibility to advance its ambitious growth plans in the MENA region, supporting the expansion of its biosimilars portfolio, manufacturing capabilities, and supply chain resilience across MENA to better serve patients, healthcare providers, and partners across the region.
Commenting on the new partnership, Ghiath Sukhtian, Chairman of MS Pharma, said: "We are delighted and honored to welcome OFC as partners in the company. Their global operational and investing expertise, as well as their deep roots in KSA, will add significant value to MS Pharma and benefit all our stakeholders. This investment reflects the exceptional quality and commitment of our people across the organization, whose leadership and consistent execution have been instrumental in building MS Pharma into the platform it is today."
Kalle Kaend, CEO of MS Pharma, added: "This investment comes at an exciting inflection point for MS Pharma. It will enable us to deepen our expertise in biologics, expand our reach in KSA and the wider MENA region, and accelerate our growth in biosimilars. We look forward to leveraging OFC's experience and established network across KSA to achieve our ambitious goals while continuing to build a high-performing organization that delivers long-term value to patients, partners, and our employees."
Nabeel Al-Amudi, CEO of Olayan Financing Company, remarked: "MS Pharma has established itself as a leading pharmaceutical platform in the region, with strong capabilities across generics and biologics. We are pleased to partner with the company at this stage of its growth and look forward to supporting its continued expansion in Saudi Arabia and across the MENA region, in alignment with our long-term investment philosophy."
The partnership builds on MS Pharma's leadership in biosimilars, particularly in KSA, where its biologics site became the first in the Kingdom to receive SFDA GMP approval for biologics manufacturing. This year, the company also plans to become the first supplier of locally manufactured biologics to the Saudi market. These milestones reinforce the company's commitment to localization under the Saudi National Biotechnology Strategy and Vision 2030. Through the expansion of high-quality biologic therapies across the region and close collaboration with regional and international health authorities, MS Pharma remains dedicated to the highest standards of regulatory excellence and quality.
MS Pharma also aims to deepen collaboration with global development and licensing partners, offering its manufacturing capabilities to support export into global markets.
About MS Pharma
MS Pharma is a leading regional pharmaceutical company in the MENA region, specializing in the development, production, and distribution of a broad portfolio of generic and biologic therapies. Positioned for rapid growth, the company operates five manufacturing facilities across Jordan, Algeria, and Saudi Arabia, including a newly launched biologics plant serving the broader MENA market.
Headquartered in Amman, Jordan, with management offices in Zug, Switzerland, MS Pharma employs over 2,000 people across 12 countries and is committed to improving patient access to high-quality, affordable medicines.
For more information, please visit www.mspharma.com.
About Olayan Financing Company (OFC)
The Olayan conglomerate came into being in 1947 when its founder, Suliman Saleh Olayan, established its progenitor company, a company that endures to date under the Olayan Financing Company (OFC), a leading multinational enterprise with a diversified portfolio of over 32 companies and global investments that extend across Saudi Arabia, the wider Middle East, North Africa, Turkey, and India. A long-term strategic investor, OFC's investments extend to public equities, private equities, strategic partnerships, and real estate assets as well as the portfolio of one of its main investments, Olayan Saudi Holding Company, which operates across five sectors powered by its many long-standing partnerships that have endured for several decades. OFC's multicultural workforce comprises more than 14,500 qualified professionals, representing over 60 nationalities. In line with its commitment to creating a long-term positive impact on society, OFC's philanthropy arm, the Suliman S. Olayan Foundation (SSOF), supports a broad range of education, healthcare, and community outreach initiatives. As a Saudi company, OFC actively contributes to Vision 2030's economic diversification, local content, talent development, and circular economy goals.
For more information, please visit www.ofc.com.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
MS Pharma Announces Strategic Growth Investment from Olayan Financing Company
MS Pharma Announces Strategic Growth Investment from Olayan Financing Company
