After years of twists and turns and near-misses, Patni has finally been sold. iGate will buy the founders' and private equity firm General Atlantic's combined 63% stake in the company for USD 921 million.
iGate will subsequently make an open offer in April for an additional 20.6% stake at the Rs 503.50 per share. iGate CEO Phaneesh Murthy clarified that there was no non-compete component in the deal. Murthy added that Patni will remain a listed entity atleast till the first half of 2011. Meanwhile, PatniDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
