Patni Computer Systems
| Company type | Public |
|---|---|
| Industry | Information technology services |
| Founder | Narendra Patni |
| Fate | Merged with IGATE Corporation in 2011 |
| Successor | IGATE Patni (until 2012) |
| Headquarters | India |
Area served | Worldwide (Americas, Europe, Asia-Pacific) |
Key people | Jeya Kumar (CEO from 2009) |
| Products | IT services and business solutions |
Number of employees | 18000+ |
Patni Computer Systems Limited was an Indian provider specializing in IT services and business solutions, established by Narendra Patni. In 2011, it merged with IGATE Corporation and functioned under the name IGATE Patni until 2012. The organization had a workforce exceeding 18,000 employees distributed across 23 offices worldwide, including locations in the Americas, Europe, and Asia-Pacific regions, along with offshore development centers situated in eight Indian cities. Patni served a clientele of over 360 companies listed in the Fortune 1000.
Following a comprehensive global search in 2009, Jeya Kumar was appointed as CEO of Patni. His tenure marked the beginning of the company's "Patni 2.0" phase, emphasizing strategic expansion and strengthening client relationships.
Acquisition by iGATE Corporation
On 10 January 2011, iGATE declared a definitive agreement to purchase a 63% stake in Patni Computer Systems Limited from its principal shareholders.
Acquisitions and OEM agreements
- April 2003: Through its US subsidiary, Patni Computer Systems Inc., the company acquired "The Reference Inc." located in Massachusetts for approximately US$7.5 million, bolstering its capabilities in financial services.
- August 2004: Patni entered into an OEM partnership with InteQ Corporation to broaden its Infrastructure Management Services (IMS) offerings, aiming to capitalize on the IMS market anticipated to reach $19.5 billion by 2007.
- November 2004: The acquisition of "Cymbal Corporation" for million marked Patni's foray into the telecom IT services sector, providing specialized solutions tailored for telecommunications clients.
- June 2006: By acquiring "ZAiQ Technologies" based in Woburn, Massachusetts, Patni enhanced its portfolio with ASIC design expertise, Intellectual Property (IP), and advanced skills in FPGA and System-on-a-chip (SoC) technologies.
- July 2007: The purchase of "Logan-Orviss International (LOI)," a European telecommunications consulting firm generating €11.8 million in revenue during 2006, involved upfront cash payments coupled with performance-based incentives over three years.
- July 2007: Patni acquired New Jersey-based "Taratec Development Corp." for $27.2 million in cash; Taratec was recognized as a consulting leader within life sciences, delivering integrated business, IT, and regulatory compliance solutions with annual revenues surpassing $20 million.