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{{Short description|IT company based in India}}{{More citations needed|date=April 2024}}
{{copyedit|date=June 2010}}
{{Infobox company
| company_name = Patni Computer Systems Limited
| company_type = Public {{BSE|532517}}<br>{{nasdaq|PTI}}
| company_logo = ]
| foundation = 10 February 1978


{{Use dmy dates|date=August 2021}}
| location = ], India
{{Infobox company|
| key_people = ] (Chairman) ] (CEO)
| industry = ] | type = ]
| traded_as = {{BSE|532517}} {{NYSE|PTI}}
| services = ] & ]
| logo = Patni Logo.svg
| products =
| foundation = 10 February 1978<ref>{{cite web|url=https://www.deccanherald.com/india/independence-day-india-at-75-how-india-became-an-it-giant-1135466.html |title=How India became an IT giant|publisher=deccanherald.com |date=2024-10-15 |access-date=2022-08-15}}</ref>
| revenue = {{profit}} {{INRConvert|3164.75|c}} (2010)
| founder = ]
| operating_income =
| location = ], ], India
| net_income = {{profit}} {{INRConvert|586.61|c}} (2010)
| fate = Acquired by ]
| num_employees = 15000 (As on May 2009)<ref>{{cite web|url=http://www.livemint.com/2009/05/20221005/Patni-in-transition-seeks-to.html |title=Patni in transition, seeks to be among Top 5 - Corporate News |publisher=livemint.com |date=2009-05-20 |accessdate=2010-07-16}}</ref>
| defunct = 2012
| parent = ]<ref>http://www.rediff.com/business/slide-show/slide-show-1-tech-igate-seals-patni-deal-for-usd-1-22-billion/20110110.htm</ref>
| industry = IT services
| subsid =
| services = IT and ] services
| homepage =
| footnotes = | products =
| revenue = {{INRConvert|2164|c}} (2012)
| operating_income =
| net_income = {{INRConvert|386|c}} (2012)
| assets =
| num_employees = 18,273 (2011)<ref>{{cite web|url=http://www.livemint.com/2009/05/20221005/Patni-in-transition-seeks-to.html |title=Patni in transition, seeks to be among Top 5 - Corporate News |publisher=livemint.com |date=2009-05-20 |access-date=2010-07-16}}</ref>
}} }}
], ] (2009)]]
'''Patni Computer Systems Limited''' was a provider of IT services and business solutions founded by ]. It merged with ] Corporation in 2011<ref name="IG">
"iGATE Corporation | Investor Relations",
iGATE.com, 2011, webpage:
.
</ref> and operated under the name '''IGATE Patni''' until 2012.<ref>{{Cite news |date=2011-05-13 |title=iGate completes acquisition of Patni Computers |url=https://economictimes.indiatimes.com/tech/software/igate-completes-acquisition-of-patni-computers/articleshow/8285051.cms?from=mdr |access-date=2024-10-15 |work=The Economic Times |issn=0013-0389}}</ref> 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 ] companies.<ref>{{cite web|url=http://www.igatepatni.com/igate-patni-profile.aspx |title=About Us |publisher=Patni |date=2009-03-30 |access-date=2010-07-16}}</ref><ref>{{Cite news |date=2012-05-16 |title=Patni Computer shares to delist from NSE on May 21 |url=https://economictimes.indiatimes.com/tech/ites/patni-computer-shares-to-delist-from-nse-on-may-21/articleshow/13174040.cms?from=mdr |access-date=2024-10-15 |work=The Economic Times |issn=0013-0389}}</ref>


In 2009, Patni Computer Systems appointed Jeya Kumar as the new CEO following a two-year global search.<ref>{{Cite news |date=2008-12-18 |title=Patni Computer appoints Jeya Kumar as CEO |url=https://economictimes.indiatimes.com/patni-computer-appoints-jeya-kumar-as-ceo/articleshow/3855723.cms?from=mdr |access-date=2024-10-15 |work=The Economic Times |issn=0013-0389}}</ref> 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.<ref>{{Cite news |date=May 21, 2009 |title=Patni in transition, seeks to be among Top 5 |url=https://www.livemint.com/Companies/aExeRyuQEBbQHzi8zlKRjK/Patni-in-transition-seeks-to-be-among-Top-5.html |work=livemint.com}}</ref>
'''''Patni Computer Systems Ltd.''''', is a provider of ] services and business solutions. The company employs over 15000 people, and has 23 international offices across the Americas, Europe, and Asia-Pacific, as well as offshore development centres in 8 cities in India. Patni's clients include more than 400 ] companies.<ref>{{cite web|url=http://www.patni.com/who-we-are.aspx |title=About Us |publisher=Patni |date=2009-03-30 |accessdate=2010-07-16}}</ref>


==Acquisition by iGATE Corporation==
==History==
On 10 January 2011, ] 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.<ref name=GT-DEX-2011-CN-MP-VII>{{citation|title=IGATE CORP - FORM 8-K - April 4, 2011|url=http://getfilings.com/sec-filings/110404/IGATE-CORP_8-K/#b}}</ref> This created an enterprise with close to $1b in revenues and 25,000 in headcount.


The proposed acquisition of the shares was subject to regulatory requirements and iGate was required to make an 'Open Offer' to acquire additional 20% of Patni's shares from the open market. Changes in the shareholding took place upon fulfillment of all the obligations under the Open Offer process.
India, ] first came to the US in 1964 on an ] fellowship and in the early 1970s, he was appointed the president of Forrester Consulting Group, which advised companies and government agencies on technology issues.


==Acquisitions and OEM agreements==
While there, he became aware of the benefits of outsourcing during a project involving advance level typesetting. “The best way to do it is where the labor is cheaper”, he said and so was born the first outsourcing companies in India.
*April 2003: Acquired "The Reference Inc.", a company incorporated in ],<ref>{{cite web |title=Cover Page.pm6 |url=http://www.sebi.gov.in/dp/patnifin.pdf |archive-url=https://web.archive.org/web/20120316113928/http://www.sebi.gov.in/dp/patnifin.pdf |archive-date=2012-03-16 |access-date=2010-07-16 |website=sebi.gov.in}}</ref> USA for a consideration of about US$7.5 million, through its wholly owned US subsidiary, Patni Computer Systems Inc. The Reference Inc. has provided Patni with specialised skills and domain expertise in the financial services industry segment.

*August 2004: Patni and InteQ Corporation announced an OEM agreement which would enable Patni to provide more extensive ] (IMS) and further tap into the expanding IMS market estimated to reach $19.5 billion by 2007.{{Citation needed|date=April 2024}}
===The Beginning===
*November 2004: Acquired "Cymbal Corporation" for a sum of {{INRConvert|300|c}} million.<ref>{{cite web |author=Subramanian |first=Shobhana |date=2005-03-23 |title=Patni's bent on catching up |url=http://www.business-standard.com/india/storypage.php?autono=208294 |access-date=2010-07-16 |work=Business Standard}}</ref> Cymbal's acquisition allowed Patni to enter the IT services market in the telecom vertical, gaining expertise and operations in the provision of services to clients in the telecommunications industry.
The name of the company was initially Data Conversion Inc in 1972. ] and his wife Poonam started this experiment in their house, naming one room as ‘US’ and the other as ‘India’. In one room, they wrote instructions to convert data from paper documents to computers. In another room, a group of MIT students typed out the data into a Flexowriter machine that spat out papered out court documents for LexisNexis, movie summaries for American Film Institute and catalogs for American Mathematical Society. Each week boxes of paper tapes were flown to US for processing through readers and conversion into magnetic tapes that was fed into computers. This experiment has mushroomed into a business empire and a global phenomenon that is fuelling productivity.
*June 2006: Acquired "ZAiQ Technologies", a design and verification company, in ].<ref>{{Cite news |date=May 6, 2006 |title=India’s Patni buys U.S. design house ZaiQ |url=https://www.eetimes.com/indias-patni-buys-u-s-design-house-zaiq/ |work=eetimes.com}}</ref><ref>{{Cite news |date=February 14, 2013 |title=Patni acquires US-based design firm |url=https://www.business-standard.com/article/technology/patni-acquires-us-based-design-firm-106060701034_1.html |work=business-standard.com}}</ref> Through the transaction, Patni obtained ZAiQ's ] (ASIC) design capabilities and ] (IP), as well as expertise in ] (FPGA) and ] (SoC) technologies.<ref>{{citation |url= |title=Buy American. (Patni Computer Systems Ltd. acquires Zaiq Technologies)\ |publisher= |date=2006-07-10 |access-date=}}</ref>

*July 2007: Acquired Europe-based "Logan-Orviss International (LOI)", a leading independent specialist telecommunications consulting services company. The consideration includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three-year period. LOI ended a profitable year with revenues of Euro 11.8 Million in 2006.<ref>{{cite web |url=http://www.patni.com/newsroom/press-release/2007/LOI_Telecom.pdf |title=Patni acquires Telecoms Consulting Specialist |access-date=2007-10-04 |date=2007-07-02 |publisher=Patni}}{{Dead url|date=April 2024}}</ref>
This was Patni's first step into the realm of software services. By late 1970s the company had garnered enough foreign exchange to take the next step forward. Patni came up with the idea of importing multi user server systems and selling computer time. Eventually, an agreement with US based computer manufacturer Data General to supply computer systems through satellite links helped create Patni Computer Systems in 1978. The company was incorporated in India on 10 February 1978 under the Indian Companies Act, 1956.
*July 2007: Acquired N.J.-based "Taratec Development Corp." through Patni Computer Systems Inc. a wholly owned subsidiary of the company, for an aggregate price of $27.2 million in cash including contingent consideration. With more than $20m in annual revenue, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.<ref>{{cite web |url=http://www.patni.com/newsroom/press-release/2007/Taratec.pdf |title=Patni Acquires Life Sciences Services Company Taratec for $27 million |access-date=2007-10-04 |date=2007-07-23 |publisher=Patni}}{{Dead url|date=April 2024}}</ref>

Around the same time ] had the idea of software development opportunities from Data General to be delivered from India. And they got the projects! Mr. Patni’s dream of leveraging India as a high quality and low cost delivery base became a reality when in 1986 India’s first ODC (Offshore Delivery Centre) for Data General was set up. This was the start as Patni successfully initiated and developed the outsourcing business model – which flourished into one of the largest industries worldwide, connecting the world in ways that was unimaginable some time ago.<ref name="patni1">http://www.patni.com/media/36387/At%20the%20centre%20of%20cultural%20shift.pdf</ref>

During the early 1990s the company was too focused on its hardware market and couldn’t leverage the growth of software opportunities. It was then that Naren Patni roped in consulting group McKinsey to recommend how to scale up their business. The firm recommended massive restructuring of the organization into strategic business units based on market segments and technological expertise supported by horizontal groups. From an 80 crore company in 1996, the company’s revenues have grown to 656 million USD till 2009.
]

===Global Expansion===
The company’s global expansion began when they set up an office in London UK in 1993. It was followed by a surge of expansion in different parts of United States as well as in various European and Asian countries including Japan. Along with offices pan-India, now Patni has 28 offices worldwide to help service regional customers better.

This expansion was not just geographical. Across the years, Patni has added various services to their offerings as well as practices like engineering services, enterprise application solutions, e-business solutions, BPO services and so on. They have acquired companies like The Reference Inc, Cymbal Corporation, ZAiQ Technologies, Taratec, Logan Orviss and very recently CHCS. Patni collected various accreditations like ISO 9001:2000, CMM Level 5 and P-CMM Level 3 certifications and integrated Six Sigma techniques.<ref>{{cite web|url=http://www.patni.com/press-release/2003/patni-acquires-usa-based-the-reference-inc.aspx |title=Financial Services |publisher=Patni |date=2009-03-30 |accessdate=2010-07-16}}</ref><ref>{{cite web|url=http://www.patni.com/press-release/2007/patni-acquires-life-sciences-services.aspx |title=Life Sciences &#124; Taratec |publisher=Patni |date= |accessdate=2010-07-16}}</ref><ref>{{cite web|url=http://www.patni.com/press-release/2007/patni-acquires-telecoms-consulting.aspx |title=Telecom Consulting Services &#124; Logan-Orviss International |publisher=Patni |date= |accessdate=2010-07-16}}</ref><ref>{{cite web|url=http://www.patni.com/press-release/2006/patni-acquires-us-based-zaiq.aspx |title=Product Engineering Services &#124; Verification and Validation |publisher=Patni |date= |accessdate=2010-07-16}}</ref>

====IPO====
Soon after implementing McKinsey’s restructuring, a model that would be adopted later by most competitors, Naren Patni took a very important decision. He decided to invite Merrill Lynch to act as advisor for their Initial Public Offering (IPO). According to their analysis, Patni had all the trappings to attract private investments – critical mass, proven track record and stable customer base. By a combination of coincidences General Atlantic, a global leader in private equity investment, was looking for a suitable Indian software player to invest in and invested US $ 100 million in September 2002. Patni underwent an IPO on February 2004 which was oversubscribed 22 times. They are currently listed on Bombay Stock Exchange (BSE), National Stock Exchange (NSE), India and New York Stock Exchange, US.<ref name="patni1"/>

In the same year, Patni acquired ] based ] for a sum of US$78 mn. Cymbal's acquisition allowed Patni to enter $60 billion IT services market in the telecom vertical which was previously not available to Patni on their business landscape.<ref>{{cite web|url=http://www.thehindubusinessline.com/2004/11/05/stories/2004110501190700.htm |title=Patni completes Cymbal buy |publisher=The Hindu Business Line |date=2004-11-05 |accessdate=2010-07-16}}</ref>
This acquisition also allowed Patni to spread its Non-GE Business, and added a development center in ].

In December 2005, Patni listed its ADRs on the ] (]) under the ticker PTI.<ref>{{cite web|url=http://infotech.indiatimes.com/articleshow/1338196.cms |title=Times of India Tech: Latest IT, telecom, Internet, BPO news and updates |publisher=Infotech.indiatimes.com |date= |accessdate=2010-07-16}}</ref> The board of directors includes chairman ]

====Patni Knowledge Park====
], ]]]Patni’s first foray into a ‘knowledge park’ was when Patni Knowledge Park opened its gates in September 2006 in Airoli near Mumbai, India. Its design combines the open ambience of the college with the professional efficiency of a technology / knowledge park.

In 2008, Patni launched its first Green IT-BPO knowledge centre in Noida, India. The state-of-the-art environment-friendly facility complements the organization’s green initiatives around efficient utilization and conservation of energy, water and natural resources. The centre is spread over {{convert|5|acre|m2}} and has a seating capacity of over 3500. Later the same year, it was awarded the prestigious LEED Platinum (Leadership in Energy and Environmental Design) rating for its Green IT-BPO Centre inaugurated earlier this year in Noida. This makes the Patni Knowledge Centre the second largest Platinum rated building in the world, and the largest Platinum rated building outside the United States.

===Jeya Kumar as CEO===
As a next step forward heralding a new future, on 18 December 2008, the company announced the appointment of Mr. Jeya Kumar as Chief Executive Officer. Jeya Kumar, who joined Patni in Feb 2009, was hired by Naren Patni after 2 years of global search to find the ‘right man’ for the job.

Patni’s move is significant. It is one of the rare instances in India where a family is ceding management control to a professional. For the new CEO the future of the company is in innovation. Patni was a pioneer in the off-shoring sector - They want to recreate that magic by concentrating on businesses that are difficult to replicate.

In the last year, Patni has taken various steps to move up the value chain and develop the onsite-offshore Global Delivery Model to a 3-tier model. At the very outset, the new CEO brought in his A-team of senior and experienced professionals, infusing a new way of thinking into the company.

Since then Patni has been in the news for their focus on micro-verticals, diversifying into emerging geographies and new client wins. Some of the large ones being opening of near shore centers in Mexico and Texas, along with the acquisition of CHCS Services, Inc., creating a new hub for Patni in Pensacola (Florida), winning the largest deal in the company’s history with UAM, a JV in Japan with JR Kyushu amongst others. Patni recently won the largest deal in the company’s history - a multi-million dollar, five-year agreement for providing end-to-end policy administration services for Universal American. The deal according, to media reports, was touted at 200Mn$ and is a sign of Patni making its mark in the big league.

==Acquisition By iGate Corporation==
iGate (www.igate.com) has announced on 10th January 2011, that it has 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. This will create an enterprise with close to $1b in revenues, 25,000 in headcount.

The proposed acquisition of the shares is subject to regulatory requirements and iGate is required to make an ‘Open Offer’ to acquire additional 20% of Patni’s shares from the open market. Changes in the shareholding shall take place upon fulfillment of all the obligations under the Open Offer process.

==Operations==
{| class="wikitable"
|
===Key industry verticals===
*]
*]
*]
*Product Engineering
*]
*Independent Software Vendors(ISV)
*]
*Media & Entertainment
*]
*]
|
===Key services===
In addition to these, Patni serves its customers through following Horizontal Business Units across various industries:
{| class="wikitable"
|
*Application Development
*Application Management
*]
*]
*]
*]
*Enterprise Application Services
*] & ] (CIS & BPO)
*] & ]
*]
*]
*]
*Customer Interaction Services & ]
|
*]
*]
*]
*Customized Learning Solutions
*User Experience Management
*
*Cloud Computing
**Cloud Acceleration Program
**Cloud Based Outsourcing
**Cloud Infrastructure Services
**Cloud Testing Services
|
|}
|}

==Global Locations==
{| class="wikitable"
|
'''Asia Pacific (APAC)'''
* India: ], ], ], ], ], ], ], ]
* Australia: ], ]
* Japan: Tokyo

'''North America'''
*Canada:]
*U.S.A: ], ], ], ], ], ], ], ], ], ], ], ]
*Mexico:]

'''South America'''
*Brazil:]

'''Europe, Middle East & Africa (EMEA)'''
*Germany: ]
*Sweden: ]
*The Netherlands: ]
*UK: London
*UAE: ]
|
'''Patni Knowledge Park, Airoli, Mumbai'''

], ]]]Situated on a sprawling {{convert|50|acre|m2}} of land in the lush green Navi Mumbai area, this campus will include world-class facilities for software development, training, customer care, employee recreation, among others. The Patni Knowledge Park can easily accommodate 17,000 professionals.<ref>{{cite web|url=http://www.rediff.com/money/2004/apr/21patni.htm |title=Patni software park to seat 17,000 |publisher=Rediff.com |date= |accessdate=2010-07-16}}</ref>

'''Green IT-BPO centre in NSEZ, Noida'''
]
<br>The state-of-the-art environment-friendly facility,<ref>{{cite web|author=Greener Living |url=http://greenerlivingonline.com/green-sez-in-noida.html |title=GREEN SEZ IN NOIDA &#124; Greener Living |publisher=Greenerlivingonline.com |date= |accessdate=2010-07-16}}</ref> set up with an investment of Rs. 175 crores, complements the organization's green initiatives around efficient utilization and conservation of energy, water and natural resources. Developed on Green Architecture, the centre is spread over {{convert|5|acre|m2}} and has a seating capacity of over 3500.

Christened, Patni Knowledge Centre, this facility is designed and constructed as per the guidelines of LEED (Leadership in Energy and Environmental Design) India Green Building Rating System for New Construction.<ref>{{cite web|url=http://www.generalatlantic.com/en/news/article/696 |title=Patni Inaugurates Green IT-BPO Centre in Noida : Global Growth Investors |publisher=General Atlantic |date= |accessdate=2010-07-16}}</ref>
|}

<Gallery>
File:Patni US.JPG|Patni US,
File:Patni Chennai.jpg|Patni Chennai,
File:Patni UK.jpg|Patni UK,
File:Noida Courtyard 1 Night View.jpg|Patni Noida Courtyard,
File:Patni Knowledge Park, Airoli 02 - cropped.jpg|Patni Knowledge Park
</gallery>

==Acquisitions==
*April 2003: Acquired "The Reference Inc.", a company incorporated in ],<ref>{{cite web|url=http://www.sebi.gov.in/dp/patnifin.pdf |title=Cover Page.pm6 |format=PDF |date= |accessdate=2010-07-16}}</ref> USA for a consideration of about US$ 7.5 million, through its wholly owned US subsidiary, Patni Computer Systems Inc. The Reference Inc. has provided Patni with specialised skills and domain expertise in the financial services industry segment.
*November 2004: Acquired "Cymbal Corporation" for a sum of {{INRConvert|300|c}} million.<ref>{{cite web|author=Shobhana Subramanian / Mumbai&nbsp;23 March 2005 |url=http://www.business-standard.com/india/storypage.php?autono=208294 |title=Patni`s bent on catching up |publisher=Business-standard.com |date=2005-03-23 |accessdate=2010-07-16}}</ref> Cymbal's acquisition allowed Patni to enter the IT services market in the telecom vertical, gaining expertise and operations in the provision of services to clients in the telecommunications industry.
*June 2006: Acquired "ZAiQ Technologies", a design and verification company, in ]<ref>{{cite web|url=http://www.siliconindia.com/shownews/Patni_acquires_ZAiQ-nid-32082.html |title=Patni acquires ZAiQ |publisher=SiliconIndia |date=2006-06-06 |accessdate=2010-07-16}}</ref> Through the transaction, Patni obtained ZAiQ's ] (ASIC) design capabilities and ] (IP), as well as expertise in ] (FPGA) and ] (SoC) technologies.<ref>{{cite web|url=http://business.highbeam.com/137376/article-1G1-148031445/buy-american |title=Buy American.(Patni Computer Systems Ltd. acquires Zaiq Technologies)(Brief article) &#124; HighBeam Business: Arrive Prepared |publisher=Business.highbeam.com |date=2006-07-10 |accessdate=2010-07-16}}</ref>
*July 2007 : Acquired Europe-based "Logan-Orviss International (LOI)", a leading independent specialist telecommunications consulting services company. The consideration includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three year period. LOI ended a profitable year with revenues of Euro 11.8 Million in 2006.<ref>{{cite web |url=http://www.patni.com/newsroom/press-release/2007/LOI_Telecom.pdf |title=Patni acquires Telecoms Consulting Specialist |accessdate=2007-10-04 |date=2007-07-02 |format=PDF |publisher=Patni }}</ref>
*July 2007 :Acquired N.J.-based "Taratec Development Corp." through Patni Computer Systems Inc. a wholly owned subsidiary of the Company, for an aggregate price of $27.2 million in cash including contingent consideration. With more than $20m in annual revenues, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.<ref>{{cite web |url=http://www.patni.com/newsroom/press-release/2007/Taratec.pdf |title=Patni Acquires Life Sciences Services Company Taratec for $27 million |accessdate=2007-10-04 |date=2007-07-23 |format=PDF |publisher=Patni }}</ref>

==Awards and recognition==
*Listed among the ‘Best 20 Leaders in Financial Services (Insurance)’ in the 2010 Global Outsourcing 100, by IAOP.
*Recognized as Genworth Financial’s ‘2009 Strategic Supplier of The Year’.
*Received BPO Excellence Awards hosted by Stars of the Industry in the categories:
**BPO Organization of the Year’
**Operational Excellence and Quality’
**Social Change Agent’
*Listed as a ‘NeoIT 2008 Global Services 100 Company’.
*Listed as a ‘IAOP 2008 Global Outsourcing 100 Company’.<ref>{{cite web|url=http://www.livemint.com/2008/02/22162140/Infosys-TCS-among-best-global.html |title=Infosys, TCS among best global outsourcing service providers - Technology |publisher=livemint.com |date=2008-02-22 |accessdate=2010-07-16}}</ref>
*Received the ‘Smart Workplace Award 2008’ instituted by Economic Times in association with Intel and Acer.
*Patni Knowledge Center, Noida was awarded the LEED Platinum rating by the Indian Green Building Council in Oct 2008.
*Received the ‘2008 Marketing Excellence – Diamond Award’by ].
*Received the ‘Managing Health at Work’ and ‘Innovative Retention Strategy’ awards at the ‘World HRD Congress’ 2008-09, in the regional round under the ‘Employer Branding Category’.
*Ranked amongst the ‘Top 10 Insurance Technology Vendors’ and 35th amongst the ‘top technology providers for financial institutions’ in the ‘FinTech 100 - 2008’ list.
*Listed among ‘India's Top ITes & BPO Companies – 2008’,by Dun & Bradstreet.
*Listed among Top 10 in ‘F&A BPO Competitive Landscape of Up-and-Coming Players – 2008’, by Gartner.
*Listed in the ‘Black Book of Outsourcing – 2008’:
**Ranked among Top 5 ‘Health Insurance BPO Providers’
**Ranked among Top 10 ‘Total Benefits Administration Providers’
**Ranked among Top 15 ‘Insurance Industry Vendors offering Comprehensive End-to-end BPO Services’.
<ref>http://www.patni.com/financial-results/annual-reports.aspx</ref>


==References== ==References==
{{Reflist}} {{Reflist}}
<!--{{Refbegin}}


]
* {{Cite press release
| title = Patni Life Sciences launches PatniADEPT
| publisher = Patni Computer Systems Ltd.
| date = June 2008
| url = http://www.patni.com/newsroom/press-release/2008/PatniADEPT.html
| accessdate = }}

* {{Cite press release
| title = Patni completes India's first SAP ERP implementation at a temple trust
| publisher = Patni Computer Systems Ltd.
| date = June 2008
| url = http://www.patni.com/newsroom/press-release/2008/SAP_ERP_temple.html
| accessdate = }}

* {{Cite press release
| title = Patni launches atoms for telecom and media companies
| publisher = Patni Computer Systems Ltd.
| date = May 2008
| url = http://www.patni.com/newsroom/press-release/2008/Atoms_Release.html
| accessdate = }}

* {{Cite press release
| title = Patni announces Automated Framework for Insurance
| publisher = Patni Computer Systems Ltd.
| date = May 2008
| url = http://www.patni.com/newsroom/press-release/2008/Patni_Announces_Automated_Framework_Insurance.html
| accessdate = }}

* {{Cite press release
| title = Schindler partners with Patni for revolutionary elevator technology
| publisher = Patni Computer Systems Ltd.
| date = May 2008
| url = http://www.patni.com/newsroom/press-release/2008/Schindler_enhancement_testing_services.html | accessdate = }}

* {{Cite press release
| title = Patni strengthens its European business operations with three key appointments
| publisher = Patni Computer Systems Ltd.
| date = April 2008
| url = http://www.patni.com/newsroom/press-release/2008/Patni_strengthens_in_Europe.html
| accessdate = }}

* {{Cite press release
| title = Patni wins Golden Peacock Award 2007 for Training Excellence
| publisher = Patni Computer Systems Ltd.
| date = December 2007
| url = http://www.patni.com/newsroom/press-release/2007/Golden_Peacock_Award_Final.html
| accessdate = }}

* {{Cite press release
| title = Patni Announces Enablement Services Based on Oracle SaaS Platform
| publisher = Patni Computer Systems Ltd.
| date = November 2007
| url = http://www.patni.com/newsroom/press-release/2007/SaaS-Oracle.html
| accessdate = }}

* {{Cite press release
| title = Patni announces US$ 200 million deal with UK-based The Carphone Warehouse
| publisher = Patni Computer Systems Ltd.
| date = November 2007
| url = http://www.patni.com/newsroom/press-release/2007/CPW-Patni%20Pressrelease_Oct1707.html
| accessdate = }}

{{Refend}}-->

==External links==
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Latest revision as of 07:53, 23 October 2024

IT company based in India
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Patni Computer Systems
Company typePublic
Traded asBSE: 532517 NYSE: PTI
IndustryIT services
Founded10 February 1978
FounderNarendra Patni
Defunct2012
FateAcquired by IGATE
HeadquartersElectronic City, Bangalore, India
ServicesIT and outsourcing services
Revenue₹2,164 crore (US$250 million) (2012)
Net income₹386 crore (US$45 million) (2012)
Number of employees18,273 (2011)
Patni Knowledge Park, Airoli, Navi Mumbai (2009)

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

In 2009, Patni Computer Systems appointed Jeya Kumar as the new CEO following a two-year global search. 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.

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. This created an enterprise with close to $1b in revenues and 25,000 in headcount.

The proposed acquisition of the shares was subject to regulatory requirements and iGate was required to make an 'Open Offer' to acquire additional 20% of Patni's shares from the open market. Changes in the shareholding took place upon fulfillment of all the obligations under the Open Offer process.

Acquisitions and OEM agreements

  • April 2003: Acquired "The Reference Inc.", a company incorporated in Massachusetts, USA for a consideration of about US$7.5 million, through its wholly owned US subsidiary, Patni Computer Systems Inc. The Reference Inc. has provided Patni with specialised skills and domain expertise in the financial services industry segment.
  • August 2004: Patni and InteQ Corporation announced an OEM agreement which would enable Patni to provide more extensive Infrastructure Management Services (IMS) and further tap into the expanding IMS market estimated to reach $19.5 billion by 2007.
  • November 2004: Acquired "Cymbal Corporation" for a sum of ₹300 crore (US$35 million) million. Cymbal's acquisition allowed Patni to enter the IT services market in the telecom vertical, gaining expertise and operations in the provision of services to clients in the telecommunications industry.
  • June 2006: Acquired "ZAiQ Technologies", a design and verification company, in Woburn, Massachusetts. Through the transaction, Patni obtained ZAiQ's Application-specific integrated circuit (ASIC) design capabilities and Intellectual Property (IP), as well as expertise in Field-programmable gate array (FPGA) and System-on-a-chip (SoC) technologies.
  • July 2007: Acquired Europe-based "Logan-Orviss International (LOI)", a leading independent specialist telecommunications consulting services company. The consideration includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three-year period. LOI ended a profitable year with revenues of Euro 11.8 Million in 2006.
  • July 2007: Acquired N.J.-based "Taratec Development Corp." through Patni Computer Systems Inc. a wholly owned subsidiary of the company, for an aggregate price of $27.2 million in cash including contingent consideration. With more than $20m in annual revenue, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.

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. Retrieved 4 October 2007.
  16. "Patni Acquires Life Sciences Services Company Taratec for $27 million" (PDF). Patni. 23 July 2007. Retrieved 4 October 2007.
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