IGate

  • Ex- Infosys Americas head Ashok Vemuri appointed as CEO of iGate September 12, 2013

    Outsourcing firm iGate has appointed Ashok Vemuri as President and Chief Executive Officer with effect from September 16. The company had sacked former CEO Phaneesh Murthy in May this year over an undisclosed relationship with a subordinate. "After an extensive search process, we are delighted that Ashok will be joining iGate...
  • Rising visa costs may pinch IT cos' profits July 15, 2012

    New Delhi: Indian IT companies, including market leaders TCS and Infosys, may have to bear huge costs towards employee visa fees going ahead, which in turn can put pressure on their profit margins. Difficult visa norms, particularly in the US - one of the most important markets for the Indian software...
  • iGATE removes Patni from brand name May 7, 2012

    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,...
  • Phaneesh Murthy appointed CEO of Patni May 12, 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...
  • iGate Q4 surges 71 pc at $14.72 mn January 19, 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)...
  • iGate makes open offer for 20.6 pc Patni stake January 11, 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-...
  • iGate acquires majority stake in Patni January 10, 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...
  • Sakshat tablet, Facebook rumour: top trends today January 10, 2011

    1. Sakshat tablet It seems that this time around India's ultra-low cost computing device is for real. The Rs 1500 Sakshat tablet initiative is by the government of India. 2. Facebook Shutting Down Rumor Goes Viral It's not clear how it started, but a ridiculous rumor that Facebook is shutting down is spreading...
  • iGate set to announce deal to buy Patni January 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...
  • iGate cancels announcement of deal with Patni January 3, 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,"...
  • HCL judged best employer among tech firms September 13, 2009

    New Delhi: Shiv Nadar-promoted HCL Infosystems has emerged as the best employer in the Indian information technology industry, followed by iGate, Rolta, RMSI and SAS Institute, says a survey by Dataquest magazine and International Data Corp. HCL rose two positions from last year, while iGate slipped one notch to number two,...
  • Don't see Satyam as going forward: iGATE CEO March 16, 2009

    CEO of iGATE, Phaneesh Murthy stated that the company is less concerned about Satyam's margins and more on revenues. He feels there is a need to analyse impact of key customers exiting on Satyam's revenues. According to him, shareholder loss in Satyam could be around $100 million. However, he believes that...
  • iGATE joins fray to buy majority stake in Satyam March 13, 2009

    New York: Nasdaq-listed IT and outsourcing solutions major iGATE on Friday announced its interest in acquiring a 51-percent stake in scam-hit Indian firm Satyam Computer Services by registering for a global auction. This brings up to four the number of firms interested in buying a majority stake in Satyam, whose founder...