Persistent Systems Inc. (PSI), a California corporation and subsidiary of Persistent Systems, signed an agreement with Intel Overseas Funding Corporation to acquire the stock of Aepona Holdings, a Republic of Ireland corporation.

PSI will also acquire five subsidiaries of Aepona Holdings that come along with its holdings. Under this agreement, PSI will acquire certain IP and related rights for Aepona products, which will be managed under Persistent''s Accelerite Brand. 

Shares of the company declined Rs 9.4, or 1.47%, to trade at Rs 630. The total volume of shares traded was 16,359 at the BSE (3.02 p.m., Thursday).