The third largest American telecom operator, Sprint Nextel has joined hands with Persistent Systems which is an outsourcing software development firm to provide various network services in India. The services will include national long distance, international long distance, internet services and managed network services. Persistent will own 26% equity in the joint venture while Sprint will have the rest 74% staying within limits of the permitted FDI limit. However, the amount invested by Sprint has been kept secret.“We are excited to partner with Sprint Nextel. Sprint is a technology leader in the wireless and wireline businesses and we believe that through this joint venture, we will be able to better service Sprint’s customers who are keen to grow their business in India. Telecom business is a growing segment for Persistent and our strategic partnership with Sprint further strengthens our position in the telecom business,” said the Persistent Systems’ Chairman and Managing Director, Dr Anand Deshpande.