iGate says to buy majority stake in India’s Patni

BANGALORE, Jan 10 (BestGrowthStock) – U.S. software firm iGate
(IGTE.O: ) said on Monday it would acquire a majority stake in
India’s Patni Computer (PTNI.BO: ) with backing by private equity
firm Apax Partners for about $1.22 billion.

The value includes of an open offer for another 20 percent
in Patni, iGate said. It will acquire the shares at 503.50
rupees each.
(Reporting by Bharghavi Nagaraju)