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IT player Patni Computer Systems is gearing up for its takeover by I-Gate. The changes in top management team are the first winds of change it will feel, starting with the exit of CEO Jeya Kumar.
Patni Computer Systems reported a 20.4% year-on-year decline in consolidated net profit at USD 26.5 million for the first quarter (January-March), due to a rise in costs.
Union Budget quote by Jeya Kumar – Chief Executive Officer, Union Budget quote: Patni Computer Systems
The acquisition of Patni by iGate has received a positive response from clients, even with the one overlapping between the two, General Electric (GE). The two companies have now gone back to the drawing table to device a ‘go-to market’ strategy targeting big deals for the clients.
In an interview with CNBC-TV18, Jeya Kumar, CEO and Surjeet Singh, CFO from the Patni management spoke about their merger with iGate and their development.