iGATE removes Patni from brand name

Last Jan, iGate-led consortium had bought 63% stake Patni for Rs 4,200 cr

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A year after it completed the acquisition of Patni Computer, iGATE Corporation today announced new identity, dropping Patni from its brand name.

The new brand identity of the subsidiary of the US-based consulting, technology and BPO firm will be now just iGATE, the company said.

In January last year, an iGate-led consortium had bought nearly 63% stake in India's sixth largest IT firm Patni Computer Ltd for about $921 million (Rs 4,188 crore).

The Completion of the acquisition was announced on May 12, 2011 and company was called 'iGATE Patni'.

Unveiling the new brand, iGATE CEO Phaneesh Murthy said, "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."

He said in the statement, "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.

Murthy said that the company, equipped with an innovative mindset of a game-changer, will engage with global customers to deliver high-impact outcomes through our proprietary iTOPS framework.