Bangalore: Persistent Systems, a Pune-based software company, is acquiring rCloud a disaster recovery platform that is based on the cloud technology. rCloud is a sole propriety of the U.S. based software startup Doyenz .

In its filing Persistent Systems has informed the BSE and NSE stock exchanges about signing an agreement with Doyenz to acquire rCloud. The details of the settlement have not yet been disclosed and the closing of this transaction is expected to be subjected to usual conditions.

The rCloud platform is aimed at assisting small and medium businesses (SMB) to meet their business needs. rCloud enables quick access to business critical applications by empowering IT service providers to restore virtual production server environments in a short interval of time.

The U.S. based startup; Doyenz, was established in 2007 by two Indians; Ashutosh Tiwary and Przemek Pardyak. Within a few years of its existence, Doyenz has raised $10 million from angel investors including George Burns.

Tiwary had been involved in co-founding Performant that was a performance diagnostics startup. He was also working as a senior architect for Microsoft’s Visual Studio Team System. Tiwari’s business-partner, Pardyak was also a co-founder at Perfomant and later worked with him at Microsoft.

Persistent Systems was founded in 1990 by Anand Deshpande. Since then the company has raised investments multiple times from Intel Capital, Norwest Venture Partners and Gabriel Venture Partners.

With the acquisition of rCloud, Persistent Systems has acquired a technology from the U.S. market for the second time this year, the first being Openwave Systems earlier this year.