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Tuesday, January 11, 2011

iGate makes open offer for 20.6 pct in Patni, (NASDAQ: IGTE), (PTNI)

U.S.-listed software firm iGate (IGTE.O) has made an open offer for 20.6 percent in India's Patni Computer Systems (PTNI.BO), the manager to the offer said in a stock exchange announcement on Tuesday. On Monday, iGate, backed by private equity firm Apax Partners, acquired a majority stake in Patni for $1.2 billion, marking one of the largest deals in India's technology sector. [ID:nSGE709010 ] The open offer will start March 4 and close March 23. (Reporting by Prashant Mehra)


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