IGATE PATNI
IGate staff see a ray of hope in acquisition
A Pune-based employee remembers the company, before the Patni acquisition, as a small setup which was trying to compete with the larger players.
iGATE removes Patni from brand name
The name 'Patni,' representing Patni Computer Systems Limited, a majority owned subsidiary, has been removed from its brand identity.
iGate accepts Patni delisting offer of Rs 520 per share
iGate has received around 15.9 million shares so far and money has been kept in an Escrow account for easy payment.
iGate-Patni ties up with Rio Tinto to provide R&D and engineering services
Rio Tinto expects to spend around $60 mn to $80 mn over next five years of partnership. Partnership to focus on creating next gen tech.
Phaneesh Murthy's fast-track integration of Patni with iGate not going down well with investors
Phaneesh Murthy's fast-track integration, many fear, may be skewed in favour of iGate and its investors rather than Patni.
US-based hedge fund Elliott Management Corp mops up Patni Computer Systems's floating stock ahead of delisting
Elliott Management Corp has picked up a 9.4% stake in Patni Computer Systems, possibly scuppering iGate Corporation's efforts to delist the IT firm.
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iGate Patni to hire about 5,000 in calendar year 2012
"We will be hiring 4,000-5,000 people next calendar year - that will take our headcount over 30,000-people mark," CEO Phaneesh Murthy said.
iGate Q2 net down 64% at $4 million
Acquisition costs dragged down profits of Nasdaq-listed iGate by 64% in the quarter ended June 30, 2011, to $4 million from $11.2 million in the corresponding quarter last year.
Weyerhaeuser NR signs $30 mn deal with iGATE Patni
iGATE Patni will leverage its on-demand infrastructure services capability to help Weyerhaeuser’s IT organization respond to a dynamic business environment more efficiently and cost effectively
iGate completes acquisition of Patni Computers
Nasdaq-listed IT services company iGate announced a new go-to-market brand called 'iGate Patni' with a leaner 9-member executive team.
Post-acquisition, Patni executives to make way for iGate leadership
The changes are likely to be announced after the Patni board meeting on Thursday, where Narendra Patni, founder and chairman, will step down.
iGate shortlists Cognizant's veteran employee Debashis Chatterjee for COO rank
Cognizant's former employee Debashis had led its banking & financial services sector for over 7 yrs. After joining iGate, he may lead all verticals of the company.
iGate kicks off integration with Patni Computers
Industry watchers say iGate might have to deal with high attrition and loss of clients and how it tackles this challenge will be key to success.
iGate, Patni management get ready for integration
Deloitte has been appointed to advise on the best practices followed in integration of acquisitions, while Mercer will advise on the human resource strategy.
iGate falls 11% after Patni deal
Nasdaq-listed IT services provider iGate Corp was hammered by US investors and its shares fell 11% following its announcement to buy larger rival Patni Computer Systems for $1.22 billion on Monday.
iGate employees to get 125% of variable pay
A day after his deal with Patni Computer, iGate CEO Phaneesh Murthy provided a mega treat to his employees.
iGate's Patni buy fails to cheer its US investors
Nasdaq-listed IT services provider iGate was hammered by US investors & its shares fell 11% following its announcement to buy Patni.
Patni - iGate: It's a win-win deal for both companies
The integration of Patni Computer Systems with iGATE, expected to be completed in 12 months, offers multifold synergies to the combined entity.
iGate & Apax to walk away with Patni for $1.2 bn
After months of speculation and anxious moments for investors, employees and customers of Patni Computer Systems, iGate became the new owner of the firm creating a combined entity that is close to a billion dollars in software export revenues.
iGate to retain brand Patni after brothers stake sale
iGate will buy the entire 45.6% stake of Patni brothers -- Narendra Patni, Ashok Patni and Gajendra Patni -- along with General Atlantic's 17.4% stake.
Patni-iGate buyout deal valued at $1.22 bn
iGate's Phaneesh Murthy said the company has committed financing of $750 mn for acquisition. Value includes of an open offer for another 20%.
iGate set to announce Patni acquisition today
Patni Computer Systems is set to announce an ownership change on Monday with its promoters Patni brothers and private equity firm General Atlantic selling their stake to IT services provider, iGate.
iGate-Apax consortium likely to announce Patni deal on Monday
iGate and Apax Partners are likely to finally announce its deal to buy a 63 per cent stake in Patni Computer Systems for an estimated $ one billion.
iGate-Patni deal: Tax tangle may delay the deal by a week
The tax issues relate to Narendra Patni’s holdings in Patni Computer Systems, which are held through a US firm, Isolutions.
iGate cancels announcement of deal with Patni
"The significant corporate development that was set to be announced on Monday is off," iGate said in a brief statement tonight without assigning any reasons.
iGate to control Patni with 60% stake buy
Nasdaq-listed iGate Corporation will sign definitive agreements to buy a controlling stake in Patni Computer Systems on Monday.
Patni Board to meet on Monday to approve sale to iGate
iGate corporation will buy around 60% stake in the company from the founders and private equity investor General Atlantic.
iGate likely to win controlling stake in Patni Computers
Nasdaq-listed iGate Corporation may end up as the winner of controlling stake in Patni Computer Systems after the promoters decided not to accept the price and conditions imposed by rival bidder, private equity giant Carlyle.
iGate scrip hammered on Patni integration fears
iGate, which counts GE among its top customers and is in talks with promoters of Patni Computer Systems for a potential acquisition, saw its shares plunge by over 20% on Tuesday on concerns of integration with a rival double its size.
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