IGate Computer Systems Ltd Merged Company Summary

IGate Computer Systems Ltd Merged Summary

Patni Computer Systems Ltd is a provider of integrated offshore centric information technology (IT) and IT-enabled operations solutions and services. The company delivers a range of IT services through globally integrated onsite and offshore delivery locations primarily in India. They offer their services through industry focused practices, including insurance and healthcare (IHC), manufacturing, retail and logistics (MRDL), banking and financial services (BFS), communications and utilities (CEU), and media and entertainment (MELT) and through technology focused practices. IT services include application development, application maintenance and support, verification and validation, enterprise application solutions, business intelligence and data warehousing, packaged software implementation, infrastructure management services, quality assurance services and product engineering services. Patni Computer Systems Ltd was incorporated in the year 1978. In the year 1981, the company promoted PCS Data Products (Pvt) Ltd (PCSDP), for the sale and marketing of computer equipment and hardware maintenance. In the year 1987, they promoted PCS Data General India (PCSDG), a joint venture with The Data General Corporation, USA, for the manufacture and maintenance of computer hardware. In the year 1988, the company became a deemed public company and subsequently in April 15, 1991, the company was converted into a private limited company. In the year 1994, the name of PCSDP was changed to PCS Industries Ltd (PCSIL) and PCSDG was merged into PCSIL. In July 1, 1995, the company became a deemed public company. In the year 1999, the shares of PCSIL held by the company and other non-operating assets were de-merged into other group companies and the company emerged as a focused IT services company. In June 27, 2002, the company was converted to a private limited company. In April 2003, the completed their first acquisition in by acquiring The Reference Inc., a company incorporated in Massachusetts, USA for a consideration of about USD 7.5 million, through their wholly owned US subsidiary, Patni Computer Systems Inc. In September 18, 2003, the company was again converted to a public limited company. The company assessed at Level 5 of the Capability Maturity Model Integration (CMMI SE/SW version 1.1) during the year 2004 for all their development centers in Mumbai & Navi Mumbai after a rigorous month-long SCAMPI assessment by KPMG, India. In November 2004, the company acquired Cymbal Corporation through their wholly owned subsidiary, Patni Computer Systems Inc., to establish expertise and operations in the provision of IT services to the telecommunications industry.In the year 2005, the company won award for excellence in corporate performance. They launched Defined BPO Service for Insurance Carriers and Life New Business STP Solution. In June 2006, the company acquired ZAiQ Technologies through their wholly owned subsidiary, Patni Computer Systems, Inc. In July 2007, the company acquired Europe-based Logan-Orviss International (LOI), a leading independent specialist telecommunications consulting Services Company, through their wholly owned subsidiary, Patni Computer Systems (UK) Ltd. The company was named as the winner of Golden Peacock National Training Award-2007 by the Institute of Directors. In May 2008, the company launched the first market ready offering for communications service providers and set up core customer- and partner-facing business processes under one consolidated operational model. They achieved Gold Certified Partner status in the Microsoft Partner Program. In the year 2009, the company constructed new facilities in India, which includes three knowledge parks in Chennai, Navi Mumbai and Noida. They acquired land in Pune, Hyderabad and Kolkata in addition to its campuses in Mumbai, Chennai and Noida. For the Chennai facility, the company has acquired 18.75 acres of land near Chennai for a lease term of 99 years to establish a project in connection with software development and support services.During the year, the company set up the wholly owned subsidiary in Singapore, viz Patni (Singapore) Pte Ltd, Patni Telecom Solutions Inc and Patni Life Sciences Inc. are the subsidiaries of Patni Americas, Inc., companys one of the main subsidiaries. Patni Telecom Solutions (P) Ltd and Patni Telecom Solutions (UK) Ltd are subsidiaries of Patni Telecom Solutions Inc. Patni Computer Systems (Czech) sro is the subsidiary of Patni Computer Systems (UK) Ltd.In the year 2010, the company won a five-year, multi-million dollar healthcare contract from Universal American Corp., U.S. They also acquired CHCS Services, Inc., to become a Third-Party Administrator in the Insurance and Healthcare sector. They secured a five-year contract to provide managed services to 2e2, one of the fastest growing IT service providers in Europe. They signed a multiyear application management services contract with the Codan Group - a Europe-based insurance carrier. The company secured a contract with Serco Learning to deliver leading edge information management platform for schools.The company signed a JV pact with JR Kyushu System Solutions Inc. (JRQSS), with the aim of providing high quality, cost-effective IT and product engineering services to the Japanese enterprise market. They signed go-to-market partnership with InsPro Technologies - a provider of comprehensive and flexible Life & Health insurance processing solutions.The company established a new BPO Delivery Center in Texas for North American customers; a new IT Delivery Center in Queretaro, Mexico; their first ITO delivery (development and support) center in Suzhou, China; and opened their second delivery center in Gandhinagar, India.In the year 2011, the company completed and occupied the Phase I of the Navi Mumbai facility, with a capacity of 4,300 seats. The company completed the Phase I of the Chennai facility, with a capacity of 1,200 seats and was partially occupied. Also, the construction of the Noida SEZ facility with capacity to accommodate 3,300 seats is completed and is partially occupied. In May 12, 2011, iGATE through their wholly owned subsidiaries acquired 82.4% of the outstanding shares of the company.