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Patni may consolidate in Rs 420-470 range: Udayan

One of the largest deals in the IT industry has been inked. US software firm iGate, backed by private equity firm Apax Partners, acquired a majority stake in Patni Computer for USD 862 million. CNBC-TV18 Managing Editor Udayan Mukherjee says that now that the deal has struck, there is a lot of hard work involved in making the entity work.

January 11, 2011 / 11:57 IST
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One of the largest deals in the IT industry has been inked. US software firm iGate, backed by private equity firm Apax Partners, acquired a majority stake in Patni Computer for USD 862 million. iGate and Apax have agreed to pay Rs 503.50 a share for a 63% stake in Patni.

CNBC-TV18's Managing Editor Udayan Mukherjee says that now that the deal has been struck, there is a lot of hard work involved in making the entity work. He sees the volumes drying up now as the news has already played out.
first published: Jan 11, 2011 10:28 am

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