Narendra Kumar Patni, pioneer of India's information technology (IT) services revolution, passed away in the US.
This brand change is in line with the vision of 'one company'.
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.
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).
Pati Patni Aur Woh cannot decide whether it wants to be the climax of a Priyadarshan comedy or give the cad a dose of his own medicine brand of cheeky payback, writes Sukanya Verma.
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.
Is Divya the 'woh' in Raqesh-Shamita's 'Pati-Patni'?
Zaheed Yusuf Patni was booked under POTA on Thursday.
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.
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.
Equity-focused schemes may perform better in a bull market, while debt-oriented ones may offer greater stability during volatile periods.
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's margin pressures have eased and their topline growth is robu
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.
Police sources had said on Tuesday that Patni, prime accused in the August 25 bombings in Mumbai, had been detained in Dubai.
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.
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.
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.
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.
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.
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.
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.
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.
Patni Computer is understood to have cleared nearly 63 per cent stake sale to US based iGate and a consortium after several rounds of negotiations for an estimated amount of over Rs 4,000 crore (Rs 40 billion).
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.
'Every year, the marble industry is shrinking due to tiles. It has already decreased by 20-25 per cent in recent years.'
The establishment of the El Paso site follows Patni's recent move to open a nearshore center in Queretaro, Mexico.
There is no doubt that Akshay Kumar is a total hoot in comedic roles but Khel Khel Mein ain't it, observes Mayur Sanap.
iGate Patni is all set to compete with the likes of IBM, Accenture, Infosys and Congnizant.
In a discussion with Business Standard, Murthy shares the roadmap ahead.
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.
The Supreme Court on Friday said if it finds that authorities in Gujarat acted in contempt of its order on demolition of properties, it will ask them to restore the structures.
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.
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