Patni Computer Systems

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Patni Computer Systems
Company type Public
BSE:  532517 NYSE:  PTI
IndustryIT services
Founded10 February 1978 [1]
Founder Narendra Patni
Defunct2012
FateAcquired by IGATE
Headquarters Electronic City, Bangalore, India
ServicesIT and outsourcing services
Revenue2,164 crore (US$260 million) (2012)
386 crore (US$46 million) (2012)
Number of employees
18,273 (2011) [2]

Patni Computer Systems Limited was a provider of IT services and business solutions founded by Narendra Patni. It merged with IGATE Corporation in 2011 [3] and operated under the name IGATE Patni until 2012. [4] 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. [5] [6]

Contents

Patni Knowledge Park, Airoli, Navi Mumbai (2010) Patni Knowledge Park Airoli.jpg
Patni Knowledge Park, Airoli, Navi Mumbai (2010)

In 2009, Patni Computer Systems appointed Jeya Kumar as the new CEO following a two-year global search. [7] After taking charge, Kumar traveled extensively and met with clients, leading the company through its "Patni 2.0" phase with a vision for the company's future. [8]


Acquisition by iGATE Corporation

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. [9]

Acquisitions and OEM agreements

References

  1. "How India became an IT giant". deccanherald.com. 15 October 2024. Retrieved 15 August 2022.
  2. "Patni in transition, seeks to be among Top 5 - Corporate News". livemint.com. 20 May 2009. Retrieved 16 July 2010.
  3. "iGATE Corporation | Investor Relations", iGATE.com, 2011, webpage: IGinv.
  4. "iGate completes acquisition of Patni Computers". The Economic Times. 13 May 2011. ISSN   0013-0389 . Retrieved 15 October 2024.
  5. "About Us". Patni. 30 March 2009. Retrieved 16 July 2010.
  6. "Patni Computer shares to delist from NSE on May 21". The Economic Times. 16 May 2012. ISSN   0013-0389 . Retrieved 15 October 2024.
  7. "Patni Computer appoints Jeya Kumar as CEO". The Economic Times. 18 December 2008. ISSN   0013-0389 . Retrieved 15 October 2024.
  8. "Patni in transition, seeks to be among Top 5". livemint.com. 21 May 2009.
  9. IGATE CORP - FORM 8-K - April 4, 2011
  10. "Cover Page.pm6" (PDF). sebi.gov.in. Archived from the original (PDF) on 16 March 2012. Retrieved 16 July 2010.
  11. Subramanian, Shobhana (23 March 2005). "Patni's bent on catching up". Business Standard. Retrieved 16 July 2010.
  12. "India's Patni buys U.S. design house ZaiQ". eetimes.com. 6 May 2006.
  13. "Patni acquires US-based design firm". business-standard.com. 14 February 2013.
  14. Buy American. (Patni Computer Systems Ltd. acquires Zaiq Technologies)\, 10 July 2006
  15. "Patni acquires Telecoms Consulting Specialist" (PDF). Patni. 2 July 2007. Archived from the original (PDF) on 18 July 2021. Retrieved 4 October 2007.
  16. "Patni Acquires Life Sciences Services Company Taratec for $27 million" (PDF). Patni. 23 July 2007. Archived from the original (PDF) on 18 July 2021. Retrieved 4 October 2007.