In New Delhi: iGate, a US based software company, along with Apax Partners has agreed to acquire a majority stake in Indian software services player Patni Computer Systems for about $920 million Apax, according to the reports, will invest about $500 million in iGate for the acquisition.
The deal is being touted as one of the major acquisition in the Indian software industry and is anticipated to be completed in the first half of 2011.
The combined Patni-iGate entity will be almost a billion dollar entity which is certainly a good size to have. In the IT service industry size and scale matters a lot to win large deals, comments Arup Roy, Sr. Research Analyst at Gartner
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