Moreover, its intellectual property offerings such as IDMS in analytics present a high growth and margin potential. Straightforward integration Building on both companies previous experiences of integrating acquisitions and a strong cultural fit, the integration is expected to be smooth. The new organization will be in place within 3 months of closing and the integration is expected to be completed within 9 months. IGATE is a leading company that perfectly fits our strategic ambition. It will give us a new status on the American market, and take further our industrialization journey to offer ever more competitive services to our clients.
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Both iGATE and Patni would continue to exist as separate listed entities and would work together on an integration exercise with the advice of professional consultants and advisors, iGATE said in a statement here Thursday. As a consequence of the acquisition, the Board at Patni has been reconstituted. Announcing the acquisition,Phaneesh Murthy said, " successful completion of the transaction was our single focus over the last four months and I am very excited to formally move from integration planning to integration execution between the two companies.
The initial feedback from customers has been very encouraging. In the next three years, our goal is to become leader by capability in two verticals and a significant player in at least three to four other verticals," Murthy said. According to the new CEO, said the company would significantly expand its market presence and, pursuant to its integration programme, go to the marketplace with a common identity called iGATE Patni.
Surjeet Singh, CFO, Patni, will continue in office until May 31 and then step down when the Board expects to appoint a new financial officer, iGate said in its statement. The board also accepted resignation of independent directors Pradip Shah, Pradip Baijal, Ramesh Venkateswaran, Michael Cusumano and non-executive director Louis Theodoor from the board of company.
Even after completion of the acquisition, both iGATE and Patni will continue to exist as separate listed entities and will work together on an integration exercise with the advice of professional consultants and advisors. The two companies will operate on an independent basis and in the best interests of their respective stakeholders, with a view to building value for both sets of shareholders.
Patni scrip today closed at Rs
iGate completes acquisition of Patni Computers
Our combined operations in India have now reached the size to compete at par with the world leaders in our industry. It will also benefit our customers by taking further our industrialization and innovation initiatives. The Group reported global revenues of EUR 10, million. Together with its clients, Capgemini creates and delivers business and technology solutions that fit their needs and drive the results they want. Forward-Looking Statements This press release contains forward-looking statements under the federal securities laws. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in such statements. We can give no assurance that any future results discussed in these statements will be achieved.
iGate completes Patni acquisition
Yotilar New year will see omni-channel gain traction while deep discounting loses The top parameters set to gauge the success of the merger were customer retention, reducing attrition and being margin accretive. This book excerpt outlines how saucy, edgy Fastrack was conceived out of the Titan stable and evolved into a Cities were renamed, liberals were shouted down and vegans found their voice. Together with Patni, we got about 27, people. Much shopping happened — on portals, of entities could be a year of challenges, be it stringent Gold extended its rally for the second consecutive giate. CSR Compendium Touching lives of many. Vodafone Business Services Digilogue — Your guide to digitally transforming your business. The global spot gold prices surged 1.
iGate completes acquisition of Patni