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Tech Industry

Short Take: Morgan Stanley, Persistence sign strategic agreement

Investment banking firm Morgan Stanley and Persistence Software signed a $3.7 million strategic technology agreement under which Morgan Stanley will use the Persistence Live Object Cache technology in its distributed computing infrastructure for trading, portfolio management, and risk management systems. The sale, Persistence's largest to date, includes product purchases, engineering payments, and a minority interest by Morgan Stanley.

Investment banking firm Morgan Stanley and Persistence Software signed a $3.7 million strategic technology agreement under which Morgan Stanley will use the Persistence Live Object Cache technology in its distributed computing infrastructure for trading, portfolio management, and risk management systems. The sale, Persistence's largest to date, includes product purchases, engineering payments, and a minority interest by Morgan Stanley.