Patni Computer Systems

Patni Computer Systems Limited
Type	Public BSE: 532517
Founded	February 10, 1978
Headquarters	Mumbai, India
Key people	Narendra Patni (Chairman) Jeya Kumar (CEO)
Industry	Information Technology
Services	Software Services & Outsourcing
Revenue	$ 719 million (2008)
Employees	14,894
Website	www.patni.com

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Patni Computer Systems Ltd., is a provider of Information Technology services and business solutions. The company employs over 15,000 people, and has 23 international offices across the Americas, Europe and Asia-Pacific,as well as offshore development centers in 8 cities in India. Patni's clients include more than 200 Fortune 1000 companies. Patni has registered revenues of US$ 719 million for the year 2008^[1].^[2]

[edit] History

Patni Computer Systems Limited was incorporated as Patni Computer Systems Private Limited on February 10, 1978 under the Companies Act, 1956. In 1988, by virtue of Section 43A of the Companies Act, the Company became a "deemed public company" and subsequently on April 15, 1991 it was then converted into a private limited company. By virtue of its turnover exceeding prescribed limits under the then-applicable Section 43A of the Companies Act, on July 1, 1995, the Company became a deemed public company and consequent to the deletion of Section 43A from the Companies Act, 1956, the Company was converted to a private limited company on June 27, 2002. The Company was again converted to a public limited company on September 18, 2003.

In 2004, Patni came out with an initial public offering (IPO) of 18,724,000 equity shares in the price of Rs 230 per share for a face value of Rs 2 each. In the same year, Patni acquired Fremont, California based Cymbal Corporation for a sum of US$78 mn. Cymbal's acquisition allowed Patni to enter $60 billion IT services market in the telecom vertical which was previously not available to Patni on their business landscape. This acquisition also allowed Patni to spread its Non-GE Business, and added a development center in Hyderabad, India.

In December 2005, Patni listed its ADRs on the New York Stock Exchange (NYSE) under the ticker PTI.

[edit] Board of directors

Louis Theodoor van den Boog - Non-Executive Director
Gajendra Patni - Non-Executive Director
Ashok K Patni - Non-Executive Director
Ramesh Venkateswaran - Independent Director
Michael A Cusumano - Independent Director
Arun Duggal - Independent Director
Arun Maira - Independent Director
Pradip Shah - Independent Director
- Abhay Havaldar - Alternate Director to Mr. William O Grabe

Since Feb 2009 - Naren Patni will continue as chairman while Mr. Jeya Kumar as CEO

[edit] Key industries

Financial Services
Manufacturing
Telecom
Product Engineering
Life Sciences
Independent Software Vendors (ISV)
Retail
Media & Entertainment
Energy & Utilities
Logistics & Transportation

In addition to these, Patni serves its customers through following Horizontal Business Units across various industries:

Application Development
Application Management
IT Consulting
Embedded Software
Infrastructure Management
Enterprise Application Services
Customer Intelligence Services & Business Process Outsourcing (CIS & BPO)
BI & DW
Enterprise integration
Verification & Validation
Process Consulting
Customer Interaction Services & Business Process Outsourcing
Engineering Services
IT Governance
Business Process Management
Customized Learning Solutions
User Experience Management

[edit] Global locations

[edit] Europe, Middle East & Africa (EMEA)

Germany: Frankfurt
Sweden: Kista
The Netherlands: Schiphol-Rijk
UK: London
UAE: Dubai

[edit] Patni Knowledge Park, Airoli, Mumbai

Patni Computer Systems Ltd. Patni Knowledge Park IT-1, IT-2, TTC Industrial Area Thane-Belapur Road Airoli

[edit] Acquisitions

April 2003: Acquired "The Reference Inc.," a company incorporated in Massachusetts, 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 US$78 million. 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, Mass. 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.
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.^[3]
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 revenues, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.^[4]