M&A Deal Summary

iGATE Acquires Patni Computer Systems

On January 10, 2011, iGATE acquired information technology company Patni Computer Systems from General Atlantic for 1.2B USD

Acquisition Highlights
  • This is iGATE’s 1st transaction in the Information Technology sector.
  • This is iGATE’s largest (disclosed) transaction.
  • This is iGATE’s 2nd transaction in the United States.
  • This is iGATE’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2011-01-10
Target Patni Computer Systems
Sector Information Technology
Buyer(s) iGATE
Sellers(s) General Atlantic
Deal Type Secondary Buyout
Deal Value 1.2B USD

Target

Patni Computer Systems

Cambridge, Massachusetts, United States
Patni is a global provider of strategic IT consulting and implementation services, turnkey projects and on-site technical services. Patni offers a full range of services and solutions covering IT consulting, software development outsourcing, contact center operations and business process outsourcing to customers in the financial services, manufacturing, life sciences, communications, and media & entertainment sectors.

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Buyer(S) 1

Buyer

iGATE

Fremont, California, United States

Category Company
Founded 1986
Sector Information Technology
Employees34,455
Revenue 1.2B USD (2013)
DESCRIPTION

iGATE Corporation provides offshore-based IT and business process outsourcing services. The company has deep capabilities in chosen sub-verticals, including insurance, banking & financial services, manufacturing & retail, communications, media & entertainment and product engineering services.


DEAL STATS #
Overall 2 of 2
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 2 of 2
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-27 CHCS Services

Pensacola, Florida, United States

CHCS Services is a provider of underwriting, claims management or complete Senior administrative solutions. CHCS Services is based in Pensacola, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-27 CHCS Services

Pensacola, Florida, United States

CHCS Services is a provider of underwriting, claims management or complete Senior administrative solutions. CHCS Services is based in Pensacola, Florida.

Sell -

Seller(S) 1

SELLER

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 73.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 40 of 147
Sector (Information Technology) 13 of 26
Type (Secondary Buyout) 6 of 25
State (Massachusetts) 3 of 5
Country (United States) 21 of 75
Year (2011) 2 of 9
Size (of disclosed) 10 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 MercadoLibre

Montevideo, Uruguay

MercadoLibre is an online trading platform serving Latin America. Its services are designed to provide its users with mechanisms to buy, sell, pay for, and collect on e-commerce transactions. The company principally offers MercadoLibre marketplace, an automated online commerce service, which permits businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. MercadoLibre was founded in 1999 and is based in Montevideo, Uruguay.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-14 Webloyalty.com

Norwalk, Connecticut, United States

Webloyalty.com, Inc. provides online subscription membership programs.

Sell -