U.S. software firm iGate is set to announce a deal on Monday to buy a majority stake in India's Patni Computer Systems , the Economic Times reported, citing two sources with direct knowledge of the deal. iGate is likely to buy a stake of more than 60 percent from Patni Brothers and private equity firm General Atlantic at between 500 to 505 rupees per share, according to the report. A Patni Computer board meeting is scheduled for Monday morning, the Economic Times said. iGate's deal with Apax Partners for a majority stake in Patni Computer Services was expected to be announced last week but had been delayed due to procedural issues, a source told Reuters last week.
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