IGATE

Last updated

IGATE Corporation
Company type Public
Nasdaq: IGTE
Industry IT services, BPO
Founded1996;28 years ago (1996)
Founder
Defunct2015 (2015)
FateAcquired by Capgemini
Headquarters Bridgewater, New Jersey, U.S.
Area served
North America, Europe, Japan & Australia
Key people
 Srinivas Kandula (CEO)
ServicesIT and Outsourcing services
Owner Capgemini
Website http://www.igate.com/
Footnotes /references
[1] [2] [3]

IGATE Corporation was an IT services company, headquartered in Bridgewater, New Jersey, United States. The firm operated in North America, Asia, Europe, Japan and Australia, providing technology consultancy and services. Its revenues in 2014 were over US$1.2 billion, and it has a workforce of over 31,000. The firm had over 70 offices and customer delivery centers in North America, Europe, Asia and Australia. On April 27, 2015 French IT services group Capgemini unveiled a deal to acquire IGATE for $4 billion. [4]

Contents

History

Under the Companies Act of 1956, IGATE was originally incorporated as Mascot Systems Private Limited, in 1993, and later renamed Mascot Systems Limited. It was formerly a subsidiary of Mastech Systems Corporation, now Mastech Digital. [5]

In 2011, IGATE acquired Patni Computer Systems, which was three times its size at the time. [6] With a value of around a billion US dollars, this acquisition was the largest cross-border leveraged transaction in the IT sector,[ citation needed ] and was accomplished over 12 months, including the de-listing of Patni from the Indian bourses and consolidating the shareholder value in the U.S.[ citation needed ] Initially. IGATE changed its name to IGATE Patni. It was changed to IGATE again on 7 May 2012. Its shares are listed on the NYSE as "IGATE". On 27 April 2015, Capgemini announced it would be acquiring IGATE, the transition would be completed over a phase of six months. IGATE CEO Ashok Vemuri announced his departure on 6 October 2015. [4]

In January 2016 Capgemini announced that IGATE would operate exclusively under the Capgemini brand, six months after completion of its acquisition of the US-based corporation. [7]

Key services

IGATE's key services included:

Locations

IGATE customer delivery centers were located in Pensacola, Florida; El Paso, Texas; Sterling, Virginia, United States; Guadalajara, Mexico; Mississauga, Ontario, Canada; Stockholm, Sweden; London, UK; Ballarat, Australia; Suzhou, China; and Mumbai, Bangalore, Pune, Chennai, Trichy, Hyderabad, Noida and Gandhinagar in India.

Its training and development facility, IGATE Corporate University, was in Pune, situated on 50 acres (200,000 m2) of land in the Navi Mumbai area, this campus included facilities for software development, training, customer care, and employee recreation. The IGATE (Patni) Knowledge Park accommodates 17,000 professionals. [8]

Recognition

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Sunil Wadhwani is an entrepreneur, investor, and philanthropist. He is best known as the co-founder and CEO Mastech, Inc. and IGATE. Born in Delhi, India, Sunil graduated from the Indian Institute of Technology, Madras, before moving to the United States of America to earn a degree from Carnegie Mellon University.

References

  1. ↑ "iGate Co-Founder Trivedi Floats $500m Family Office". Times of India. 27 December 2016.
  2. ↑ "iGATE Corporation - Annual Report". igate.com. Archived from the original on 3 December 2013.
  3. ↑ "IGATE appoints Ashok Vemuri as president and CEO". The Economic Times. Archived from the original on 15 September 2013.
  4. 1 2 "Capgemini to buy IGATE in $4bn deal". FT. 27 April 2015.
  5. ↑ "Capgemini Technology Services India Information - The Economic Times". economictimes.indiatimes.com. Retrieved 23 April 2018.
  6. ↑ "IGATE completes Patni acquisition". Business Standard. 13 May 2011.
  7. ↑ Aggarwal, Varun (25 January 2016), "Capgemini completely dissolves iGATE brand", Business Line
  8. ↑ "Patni software park to seat 17,000". Rediff.com. Retrieved 16 July 2010.
  9. ↑ "IGATE". Fortune.
  10. ↑ "Winners 2014". vccircle.com. Archived from the original on 16 April 2015. Retrieved 28 April 2015.
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