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verification. (April 2024) |
Company type | Public |
---|---|
BSE: 532517 NYSE: PTI | |
Industry | IT services |
Founded | 10 February 1978[ citation needed] |
Founder | Narendra Patni |
Defunct | 2012 |
Fate | Acquired by IGATE |
Headquarters | Electronic City, Bangalore, India |
Services | IT and outsourcing services |
Revenue | ₹2,164 crore (US$260 million) (2012) |
₹386 crore (US$46 million) (2012) | |
Number of employees | 18,273 (2011) [1] |
Patni Computer Systems Limited was a provider of IT services and business solutions founded by Narendra Patni. It merged with IGATE Corporation in 2011 [2] and operated under the name IGATE Patni until 2012. The company has employed over 18,000 people in 23 international offices across the Americas, Europe, and the Asia-Pacific region, as well as offshore development centres in eight cities in India. Patni's clients included more than 360 Fortune 1000 companies. [3]
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. [4] This created an enterprise with close to $1b in revenues and 25,000 in headcount.
The proposed acquisition of the shares was subject to regulatory requirements and iGate was required to make an 'Open Offer' to acquire additional 20% of Patni's shares from the open market. Changes in the shareholding took place upon fulfillment of all the obligations under the Open Offer process.
This article needs additional citations for
verification. (April 2024) |
Company type | Public |
---|---|
BSE: 532517 NYSE: PTI | |
Industry | IT services |
Founded | 10 February 1978[ citation needed] |
Founder | Narendra Patni |
Defunct | 2012 |
Fate | Acquired by IGATE |
Headquarters | Electronic City, Bangalore, India |
Services | IT and outsourcing services |
Revenue | ₹2,164 crore (US$260 million) (2012) |
₹386 crore (US$46 million) (2012) | |
Number of employees | 18,273 (2011) [1] |
Patni Computer Systems Limited was a provider of IT services and business solutions founded by Narendra Patni. It merged with IGATE Corporation in 2011 [2] and operated under the name IGATE Patni until 2012. The company has employed over 18,000 people in 23 international offices across the Americas, Europe, and the Asia-Pacific region, as well as offshore development centres in eight cities in India. Patni's clients included more than 360 Fortune 1000 companies. [3]
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. [4] This created an enterprise with close to $1b in revenues and 25,000 in headcount.
The proposed acquisition of the shares was subject to regulatory requirements and iGate was required to make an 'Open Offer' to acquire additional 20% of Patni's shares from the open market. Changes in the shareholding took place upon fulfillment of all the obligations under the Open Offer process.