iGate acquiring majority stake in Patni Computer Systems
Rumors were true. Patni Computer Systems is selling majority stake in the company to iGate.
The deal is for a 63% stake and is worth around $921 million.
iGate is offering Rs. 503.5 per share for this stake. They are also planning to acquire more stake in the near future through an open offer.
In all they are planning to spend around $1.22 billion on this deal.
This deal is good news for the investors in the company who have been looking for getting out of the company.