Why patni computer is for acquisition

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Narendra Patni, Mr. Gajendra Patni and Mr. Ashok Patni, and private equity firm General Atlantic, to acquire their The closing of the acquisition is subject to customary conditions, including receipt of required regulatory approvals, and the completion of the open offer for the purchase of shares of the public shareholders of Patni.

An expanded pool of talent, diverse expertise across multiple verticals, higher level strategic end-to-end service offerings and an established management team with a track record of proven execution are expected to strengthen iGATE's competitive position as a top-tier player in the highly-fragmented global IT industry. It addresses the problem of conflicting business interests between traditional outsourcing vendors and clients by allowing clients to use and pay for only the outcome.

For the service provider, it also creates a discontinuity in the linearity of revenue with people. Viscaria Limited, a company backed by funds advised by Apax Partners, will make an investment into iGATE in order to facilitate the acquisition of a majority stake in Patni. Details of the preferred stock transaction will be included in a filing on Form 8-K, which iGATE expects to file shortly. The live discussion can be accessed by dialing in the U. The audio webcast of the call providing an overview of the transaction and strategic rationale will be available at for a period of one year from the date of release.

A replay of the call will be available via webcast. Patni is a global provider of IT services and business solutions, servicing Global clients. Patni services its clients through its micro-vertical focus in banking, financial services BFS and insurance I ; manufacturing, retail and distribution MRD ; life sciences; communications, media and utilities CMU.

Statements contained in this press release regarding the benefits of the acquisition, the business outlook, the demand for the products and services, and all other statements in this release other than recitation of historical facts are forward-looking statements. Words such as "expect", "potential", " believes", "anticipates", "plans", "intends" and similar expressions are intended to identify such forward-looking statements.