Bangalore: A year after it completed the acquisition of Patni Computer, iGATE Corporation on Monday announced its new identity, dropping Patni from its brand name. The new brand identity of the subsidiary of the US-based consulting, technology and BPO firm will be now just iGATE, the company said. In January 2011, iGate-led consortium had bought nearly 63 per cent stake in India's sixth largest IT firm Patni Computer Ltd for...
02:08 PM, May 07, 2012
Moscow: The third Talwar class stealth frigate built by Russia for the Indian Navy was launched at Yantar Shipyard in Baltic exclave of Kaliningrad, signaling "a new hallmark" in bilateral defence cooperation. Ira Malhotra, wife of newly-appointed Ambassador Ajai Malhotra, launched the stealth frigate 'Trikand', the third of the three stealth frigates christened by President Pratibha Devisingh Patil along with 'Teg' (Sabre) and 'Trakash' (Quiver) in the Navy's tradition of...
01:45 PM, May 27, 2011
Bangalore: iGATE on Thursday announced the successful completion of Patni acquisition and appointment of Phaneesh Murthy as CEO of Patni. Consequently, Jeya Kumar has stepped down as the CEO of Patni. iGATE entered into purchase agreements on January 10 this year to acquire a majority stake in Patni Computers. The transaction marks completion with the buyout of the principal stockholders, Narendra Patni, Ashok Patni, Gajendra Patni and General Atlantic, and...
05:10 PM, May 12, 2011
New York: Nasdaq-listed software company iGate on Wednesday posted 70.56 per cent increase in net income at $14.72 million for the quarter ended December 31, 2010, but cautioned against a slower demand environment in 2011. "Q4 was an extremely strong quarter for us, thanks to iTOPS Consulting (one of its products) and growth in existing accounts. "However, 2011 doesn't look very strong from a demand perspective and it could be...
07:05 PM, Jan 19, 2011
Mumbai: Patni Computer Systems on Tuesday said that the US-based IT firm iGate has made an open offer for the 20.6 per cent stake in the company, in accordance with the requirements of the market regulator Securities and Exchange Board of India (SEBI). Yesterday, after several rounds of negotiations, the US- based iGate-led consortium clinched a deal to buy nearly 63 per cent stake in India's sixth largest IT firm...
11:46 AM, Jan 11, 2011
Bangalore: US-based iGate on Monday said it has acquired nearly 63 per cent stake in country's sixth largest IT firm Patni Computer Systems for $1.22 billion. iGate will buy 45.6 per cent of the shares of the three founders of Patni - Narendra Patni, Gajendra Patni and Ashok Patni - along with the 17.4 per cent stake of private equity firm General Atlantic, iGate CEO Phaneesh Murthy told reporters here....
03:16 PM, Jan 10, 2011
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01:42 PM, Jan 10, 2011
Mumbai: US software firm iGate plans to host a press conference on Monday at which it is widely expected to announce a deal to buy India's Patni Computer for more than $900 million. The US company, backed by private equity firm Apax Partners, plans to pay around Rs 500 a share for a 63 per cent stake in the company, a source previously told Reuters. iGate plans to hold a...
11:29 AM, Jan 10, 2011
New Delhi: IT firm iGate on Monday said it has called off announcement of its "significant corporate development", where it was expected to notify its deal for buying 63 per cent stake in Patni Computer Systems. "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. A company official when contacted declined to elaborate on...
10:54 AM, Jan 03, 2011
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