Patni Computer Systems Ltd will set up a development centre in China, mainly to cater to the Japanese software market, a company executive said on Thursday.
IT consultancy and services provider Patni Computer Systems has acquired US-based The Reference, a financial and investment solutions provider, for $7.5 million in cash, including its 44 existing employees.\n\n
Patni Computer Systems Ltd, which was listed on the stock exchanges recently, has posted a net profit of Rs 166.05 crore for the year ended December 2003.
Patni Computer Systems Ltd said on Monday it has acquired ZAiQ Technologies, a small ASIC design company, in Woburn, Massachusetts, by an asset purchase transaction for $425,000.
On the back of appreciated margins, Patni Computer Systems on Monday a rise in net profit at Rs 72.44 crore (Rs 724. 4 million) during the fourth quarter ended December 31, 2004 as against Rs 62.94 crore (Rs 629.4 million) in the corresponding period
Patni Computer Systems Ltd said on Friday its wholly owned subsidiary Patni Computer Systems Inc has signed a multi-service contract with US-based Disney Mobile.
IT services exporter Patni Computer Systems Ltd has appointed Massachusetts Institute of Technology professor and business strategist Michael A Cusumano as an independent director on its board.
Patni Computer Systems Inc, a wholly-owned subsidiary of Patni Computer Systems, on Monday announced the acquisition of Bridgewater, NJ-based Taratec Development Corp for an aggregate price of $27.2 million in cash.
Japan's leading information technology services and solutions provider, NTT Data Corporation, has emerged as the most aggressive suitor for Indian software services firm Patni Computer Systems. NTT is in advanced talks with the promoters of Patni Computer to buy their combined 46.5 per cent stake, investment banking sources said.
Patni Computer Systems Ltd, which concluded its initial public offering earlier, will list its shares on the Bombay Stock Exchange on February 25, 2004.
Japanese information technology services firm NTT Data Corporation is still in talks to acquire stake in Patni Computer Systems, despite acquiring Intelligroup for $199 million (around Rs 895 crore), say sources in the investment banking industry.
atni Computer Systems, a global IT services provider, announced on Tuesday the opening up of its new office in Amsterdam. This will be Patni's fifth office in Europe, after Germany (Stuttgart and Munich), Sweden and the UK.
With Narendra Patni refusing to give up management control, all talks over the proposed stake sale by the major stakeholders of Mumbai-based Patni Computer Systems have ended. This development leaves Narendra Patni firmly in the saddle - at least till December 2008, when his tenure expires - especially now that his brothers have given up executive control.
The process has been set in motion with the Patni brothers - Ashok and Gajendra - deciding to take up non-executive positions. Gajendra and Ashok have ceased to be executive directors with effect from Tuesday after the Patni board designated them as founder-directors.
This brand change is in line with the vision of 'one company'.
Patni Computer Systems Ltd will issue secondary American depository shares offering against 6.5 million equity shares held by its existing shareholders in India.\n\n
Patni Computer Systems said that the US-based IT firm iGate has made an open offer for the 20.6 per cent stake in the company, in accordance with the requirements of the market regulator Securities and Exchange Board of India (SEBI).
IT services major Patni Computer Systems Ltd is to expand its operations in Chennai by setting up a centre to accommodate 10,000 professionals with investment outlay of Rs 450 crore (Rs 4.50 billion).
US-based iGate on Monday said it has acquired nearly 63 per cent stake in country's sixth largest IT firm Patni Computer Systems for $1. 22 billion.
IT major Patni Computer Systems is close to acquiring a European IT company for $20-25 million (around Rs 100 crore) and is expected to announce the deal in the next two months.
The deal is multi-million pound multi-services telecom contract with The Carphone Warehouse, Britain's largest independent retailer of mobile communications. \n
In a discussion with Business Standard, Murthy shares the roadmap ahead.
Promoters Narendra Patni and his younger brothers Gajendra and Ashok hold equal stakes totalling 48.3 per cent in India's sixth largest software exporter.
Sources close to the development said the agreement between one of the private equity partners and the Patni brothers, who jointly hold 29 per cent stake, is expected to be signed next month.
NTT had earlier sought the combined 63 per cent stake of the promoters and private equity firm General Atlantic Partners, but their exclusive talks failed due to a valuation mismatch.
Mumbai-based Patni Computer System's stake sale has been stalled, perhaps indefinitely, according to sources close to the development.
India's sixth largest software exporter Patni Computer Systems on Wednesday said it was actively scouting for acquisitions.
IT consulting and services provider Patni Computer Systems Ltd on Tuesday announced the appointment of Loek van den Boog as an independent director on its board.
The establishment of the El Paso site follows Patni's recent move to open a nearshore center in Queretaro, Mexico.
The current talks on stake sale by its promoters at India's seventh largest information technology services company, Patni Computer Systems, seem to be in the final stages. Whichever way the deal swings, analysts feel the company will lose some business.
Patni Computer Systems has completed the acquisition of US-based Cymbal Corporation for $68 million, helping it enter the $60 billion telecommunication vertical for IT services.
US-listed iGate's open offer for buying a little over 20 per cent stake in Indian IT company Patni Computer Systems will begin on April 8 and close on April 27.
The initial public offering for Patni Computers Systems Ltd was oversubscribed by 2.75 times on Tuesday, the first day for 100 per cent book built issue, with maximum bids at price of Rs 230 per share.
A stake sale deal between Patni Computer Systems and iGate is on course, but has been delayed due to procedural issues.Sources involved in the deal said they include tax-related developments and offshore transaction fees.
Software exporter Patni Computer Systems would have to take up additional burden of up to $33 million, following a review of tax liabilities of its US operations.
Patni Computer Systems Ltd on Monday said it would raise up to $150 million additional capital by the issue of American Depository Receipts.
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