iGate Takes Out Patni From Brand Name
A year after it finished the acquirement of Patni Computer, iGATE Corporation today declared novel identity, casting off Patni from its brand name.
At this moment, the novel brand identity of the arm of the US-based consulting, technology and BPO firm will be just iGATE.
In January 2011, iGate-headed group had purchased around 63% equity stake in the country's sixth biggest IT company Patni Computer Ltd for approximately Rs 4,188 crore.
The completion of the acquirement was declared on May 12 last year and the firm was named 'iGATE Patni'.
Launching the novel brand, iGATE CEO Phaneesh Murthy stated, "I have always articulated that Patni, being a family name, is difficult to protect in several of our markets. This brand change is in line with our vision of 'one company' that will follow the successful delisting offer process of Patni with the Indian stock exchanges."
"With a revenue run rate of over a billion dollars and over 27,000 employees, the new iGATE symbolises a young and vibrant brand representing the merits of a fully integrated entity," he said in the report.
Mr. Murthy stated that the company, equipped with an ground-breaking frame of mind of a game-changer, will connect with worldwide clients to provide high-impact outcomes via their proprietary iTOPS framework.