iGATE Patni

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IGATE Patni
Type subsidiary
Industry IT Services
Founded 10 February 1978[citation needed]
Headquarters Electronics City, Bangalore, India
Key people Gerhard Watzinger
(Interim CEO)[1]
Services IT and outsourcing services
Revenue INR2,164 crore (US$370 million) (2012)
Net income INR386 crore (US$66 million) (2012)
Employees 18,273 (2011)[2]
Parent iGATE Corp.[3][4]

iGATE PATNI (formerly Patni Computer Systems, presently iGATE after merging with it) is a provider of IT services & Business solutions and is a subsidiary of iGATE Corporation.[4] The company has employed over 15,000 people. It has 23 international offices across the Americas, Europe, and the Asia-Pacific region, as well as offshore development centres in eight cities in India. iGATE Patni's clients include more than 360 Fortune 1000 companies.[5]

Contents

Acquisition By iGATE Corporation[edit]

On 10 January 2011, iGATE announced that it had reached a definitive agreement to buy shares of the major shareholders of Patni Computer Systems Limited. These shares comprise 63% of Patni's total outstanding shares.[6] This will create an enterprise with close to $1b in revenues, 25,000 in headcount.

The proposed acquisition of the shares is subject to regulatory requirements and iGate is required to make an ‘Open Offer’ to acquire additional 20% of Patni’s shares from the open market. Changes in the shareholding shall take place upon fulfillment of all the obligations under the Open Offer process.

Global Locations[edit]

Asia Pacific (APAC)

North America

South America

Europe, Middle East & Africa (EMEA)

Patni Knowledge Park, Airoli, Mumbai

iGate Knowledge Park, Airoli, Navi Mumbai
Situated on 50 acres (200,000 m2) of land in the Navi Mumbai area, this campus will include facilities for software development, training, customer care, employee recreation, among others. The Patni Knowledge Park can accommodate 17,000 workers.[7]

Green IT-BPO centre in NSEZ, Noida

iGATE Green Building


The state-of-the-art environment-friendly facility,[8] set up with an investment of Rs. 175 crores, complements the organization's green initiatives around efficient utilization and conservation of energy, water and natural resources. Developed on Green Architecture, the centre is spread over 5 acres (20,000 m2) and has a seating capacity of over 3500.

Christened, Patni Knowledge Centre, this facility is designed and constructed as per the guidelines of LEED (Leadership in Energy and Environmental Design) India Green Building Rating System for New Construction.[9]

Acquisitions[edit]

  • April 2003: Acquired "The Reference Inc.", a company incorporated in Massachusetts,[10] USA for a consideration of about US$ 7.5 million, through its wholly owned US subsidiary, Patni Computer Systems Inc. The Reference Inc. has provided Patni with specialised skills and domain expertise in the financial services industry segment.
  • November 2004: Acquired "Cymbal Corporation" for a sum of INR300 crore (US$52 million) million.[11] Cymbal's acquisition allowed Patni to enter the IT services market in the telecom vertical, gaining expertise and operations in the provision of services to clients in the telecommunications industry.
  • June 2006: Acquired "ZAiQ Technologies", a design and verification company, in Woburn, Massachusetts[12] Through the transaction, Patni obtained ZAiQ's Application-specific integrated circuit (ASIC) design capabilities and Intellectual Property (IP), as well as expertise in Field-programmable gate array (FPGA) and System-on-a-chip (SoC) technologies.[13]
  • July 2007 : Acquired Europe-based "Logan-Orviss International (LOI)", a leading independent specialist telecommunications consulting services company. The consideration includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three-year period. LOI ended a profitable year with revenues of Euro 11.8 Million in 2006.[14]
  • July 2007 :Acquired N.J.-based "Taratec Development Corp." through Patni Computer Systems Inc. a wholly owned subsidiary of the Company, for an aggregate price of $27.2 million in cash including contingent consideration. With more than $20m in annual revenue, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.[15]

Awards and recognition[edit]

  • Listed as a ‘IAOP 2008 Global Outsourcing 100 Company’.[16]
  • Ranked among Top 15 ‘Insurance Industry Vendors offering Comprehensive End-to-end BPO Services’.[17]

References[edit]

  1. ^ "iGate sacks CEO Phaneesh Murthy over sexual misconduct - Times Of India". Timesofindia.indiatimes.com. 2013-05-21. Retrieved 2013-06-10. 
  2. ^ "Patni in transition, seeks to be among Top 5 - Corporate News". livemint.com. 2009-05-20. Retrieved 2010-07-16. 
  3. ^ "iGate seals Patni deal for $1.22 billion - Rediff.com Business". Rediff.com. Retrieved 2013-06-10. 
  4. ^ a b "iGATE Corporation | Investor Relations", iGATE.com, 2011, webpage: IGinv.
  5. ^ "About Us". Patni. 2009-03-30. Retrieved 2010-07-16. 
  6. ^ "IGATE CORP - FORM 8-K - April 4, 2011". Retrieved 11 September 2012. 
  7. ^ "Patni software park to seat 17,000". Rediff.com. Retrieved 2010-07-16. 
  8. ^ Greener Living. "GREEN SEZ IN NOIDA | Greener Living". Greenerlivingonline.com. Retrieved 2010-07-16. 
  9. ^ "Patni Inaugurates Green IT-BPO Centre in Noida : Global Growth Investors". General Atlantic. Retrieved 2010-07-16. 
  10. ^ "Cover Page.pm6" (PDF). Retrieved 2010-07-16. 
  11. ^ Shobhana Subramanian / Mumbai 23 March 2005 (2005-03-23). "Patni`s bent on catching up". Business-standard.com. Retrieved 2010-07-16. 
  12. ^ "Patni acquires ZAiQ". SiliconIndia. 2006-06-06. Retrieved 2010-07-16. 
  13. ^ "Buy American.(Patni Computer Systems Ltd. acquires Zaiq Technologies)(Brief article) | HighBeam Business: Arrive Prepared". Business.highbeam.com. 2006-07-10. Retrieved 2010-07-16. 
  14. ^ "Patni acquires Telecoms Consulting Specialist" (PDF). Patni. 2007-07-02. Retrieved 2007-10-04. 
  15. ^ "Patni Acquires Life Sciences Services Company Taratec for $27 million" (PDF). Patni. 2007-07-23. Retrieved 2007-10-04. 
  16. ^ "Infosys, TCS among best global outsourcing service providers - Technology". livemint.com. 2008-02-22. Retrieved 2010-07-16. 
  17. ^ "Business Outcomes | iTOPS | Strategic Outsourcing Solutions | IT Services | iGATE". Patni.com. Retrieved 2013-06-10. 

External links[edit]

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