Kirkland Reps IGate In $1B Patni Computer Deal

Law360, New York (January 10, 2011, 4:05 PM EST) -- Technology company iGate Corp. has agreed to acquire a majority stake in Patni Computer Systems, taking over a 45.6 percent share from the India-based IT and outsourcing company's three founders in a transaction valued at more than $1 billion.

IGate will pay $921 million to acquire the bulk of Patni shares, including private equity firm General Atlantic's 17.4 percent stake, the company said.

As part of the deal, iGate will make an offer to Patni's shareholders, estimated to cost an additional $301 million, pushing the deal's...
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