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Patni Computer Systems

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Patni Computer Systems Limited
Company typePublic BSE: 532517
Nasdaq: PTI
IndustrySoftware Services
FoundedFebruary 10, 1978
HeadquartersMumbai, India
Key people
Narendra Patni (Chairman) Jeya Kumar (CEO)
ServicesSoftware Services & Outsourcing
RevenueIncrease US$719 million (2008)
Number of employees
14,500 (As on 30 June, 2009)
Websitewww.patni.com

Patni Computer Systems Ltd., is a provider of Information Technology services and business solutions. The company employs over 14,500 people, and has 23 international offices across the Americas, Europe and Asia-Pacific,as well as offshore development centres in 8 cities in India. Patni's clients include more than 200 Fortune 1000 companies. Patni has registered revenues of US$ 719 million for the year 2008[1]

History

Patni Computer Systems Limited was incorporated as Patni Computer Systems Private Limited on February 10, 1978 under the Companies Act, 1956. In 1988, by virtue of Section 43A of the Companies Act, the Company became a "deemed public company" and subsequently on April 15, 1991 it was then converted into a private limited company. By virtue of its turnover exceeding prescribed limits under the then-applicable Section 43A of the Companies Act, on July 1, 1995, the Company became a deemed public company and consequent to the deletion of Section 43A from the Companies Act, 1956, the Company was converted to a private limited company on June 27, 2002. The Company was again converted to a public limited company on September 18, 2003.


In 2004, Patni came out with an initial public offering (IPO) of 18,724,000 equity shares in the price of Rs 230 per share for a face value of Rs 2 each. In the same year, Patni acquired Fremont, California based Cymbal Corporation for a sum of US$78 mn. Cymbal's acquisition allowed Patni to enter $60 billion IT services market in the telecom vertical which was previously not available to Patni on their business landscape.[2] This acquisition also allowed Patni to spread its Non-GE Business, and added a development center in Hyderabad, India.

In December 2005, Patni listed its ADRs on the New York Stock Exchange (NYSE) under the ticker PTI.[3]

Board of directors

  • Narendra Patni - Chairman
  • Jeya Kumar - Chief Executive Officer
  • Louis Theodoor van den Boog - Non-Executive Director
  • Gajendra Patni - Non-Executive Director
  • Ashok K Patni - Non-Executive Director
  • William O. Grabe - Non-Executive Director
  • Ramesh Venkateswaran - Independent Director
  • Pradip Baijal- Independent Director
  • Dr. Michael A. Cusumano - Independent Director
  • Arun Duggal - Independent Director
  • Pradip Shah - Independent Director
  • Ramesh Venkateswaran - Independent Director
  • Abhay Havaldar - Alternate Director to Mr. William O Grabe


[4]

Operations

Key Industry verticals

Key Services

In addition to these, Patni serves its customers through following Horizontal Business Units across various industries:

Global Locations

Asia Pacific (APAC)

North America

South America

Europe, Middle East & Africa (EMEA)

Patni Knowledge Park, Airoli, Mumbai

Patni Knowledge Park
Situated on a sprawling 50 acres of land in the lush green Navi Mumbai area, this campus will include world-class facilities for software development, training, customer care, employee recreation, among others. The Patni Knowledge Park can easily accommodate 17,000 professionals.



Green IT-BPO centre in NSEZ, Noida

Patni Green Building
Patni Green Building (Night View)


The state-of-the-art environment-friendly facility, set up with an investment of Rs. 175 crores, complements the organization’s green initiatives around efficient utilization and conservation of energy, water and natural resources. Developed on Green Architecture, the centre is spread over 5 acres and has a seating capacity of over 3500.

Christened, Patni Knowledge Centre, this facility is designed and constructed as per the guidelines of LEED (Leadership in Energy and Environmental Design) India Green Building Rating System for New Construction.

[5]

Recent News

Patni’s cloud initiatives aim to provide the needed guidance to customers facing challenges migrating to public, private or hybrid cloud-based models. Leveraging over thirty years of IT experience, Patni is rolling out cloud services, starting with the CAP program. The initiative is designed to contain customers’ IT costs, protect critical assets, plan for disaster recovery, integrate global business processes, advance business continuity and business agility.[7]


Acquisitions

  • April 2003: Acquired "The Reference Inc.," a company incorporated in Massachusetts, USA for a consideration of about US$ 7.5 million, through its wholly owned US subsidiary, Patni Computer Systems Inc. The Reference Inc. has provided Patni with specialised skills and domain expertise in the financial services industry segment.
  • November 2004: Acquired "Cymbal Corporation" for a sum of US$78 million. Cymbal's acquisition allowed Patni to enter the IT services market in the telecom vertical, gaining expertise and operations in the provision of services to clients in the telecommunications industry.
  • June 2006: Acquired "ZAiQ Technologies," a design and verification company, in Woburn, Mass. Through the transaction, Patni obtained ZAiQ’s Application-specific integrated circuit (ASIC) design capabilities and Intellectual Property (IP), as well as expertise in Field-programmable gate array (FPGA) and System-on-a-chip (SoC) technologies.
  • July 2007 : Acquired Europe-based "Logan-Orviss International (LOI)", a leading independent specialist telecommunications consulting services company. The consideration includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three year period. LOI ended a profitable year with revenues of Euro 11.8 Million in 2006.[12]
  • July 2007 :Acquired N.J.-based "Taratec Development Corp." through Patni Computer Systems Inc. a wholly owned subsidiary of the Company, for an aggregate price of $27.2 million in cash including contingent consideration. With more than $20m in annual revenues, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.[13]

Awards & Recognition

  • Listed as a ‘NeoIT 2008 Global Services 100 Company’.
  • Listed as a ‘IAOP 2008 Global Outsourcing 100 Company’.
  • Received the ‘Smart Workplace Award 2008’ instituted by Economic Times in association with Intel and Acer.
  • Patni Knowledge Center, Noida was awarded the LEED Platinum rating by the Indian Green Building Council in Oct 2008.
  • Received the ‘2008 Marketing Excellence – Diamond Award’by ITSMA.
  • Received the ‘Managing Health at Work’ and ‘Innovative Retention Strategy’ awards at the ‘World HRD Congress’ 2008-09, in the regional round under the ‘Employer Branding Category’.
  • Ranked amongst the ‘Top 10 Insurance Technology Vendors’ and 35th amongst the ‘top technology providers for financial institutions’ in the ‘FinTech 100 - 2008’ list.
  • Listed among ‘India’s Top ITes & BPO Companies – 2008’,by Dun & Bradstreet.
  • Listed among Top 10 in ‘F&A BPO Competitive Landscape of Up-and-Coming Players – 2008’, by Gartner.
  • Listed in the ‘Black Book of Outsourcing – 2008’:
    • Ranked among Top 5 ‘Health Insurance BPO Providers’
    • Ranked among Top 10 ‘Total Benefits Administration Providers’
    • Ranked among Top 15 ‘Insurance Industry Vendors offering Comprehensive End-to-end BPO Services’.

[14]

RSS Feeds

Patni Newsroom
Patni Events
Patni Resource Center
Insync: The Patni Blog

References

  1. ^ http://www.patni.com/who-we-are.aspx
  2. ^ http://www.thehindubusinessline.com/2004/11/05/stories/2004110501190700.htm
  3. ^ http://infotech.indiatimes.com/articleshow/1338196.cms
  4. ^ http://www.patni.com/financial-results/annual-reports.aspx Annual report
  5. ^ http://www.generalatlantic.com/en/news/article/696
  6. ^ http://www.patni.com/press-release/2009/patni-computer-systems-unveils-cloud-services-strategy.aspx
  7. ^ http://www.thehindubusinessline.com/2009/09/17/stories/2009091750970400.htm
  8. ^ http://www.patni.com/press-release/2009/patni-helps-get-connected-deliver-innovative-online-directory-of-help-and-support-services-for-young-people-in-crisis.aspx
  9. ^ http://www.patni.com/press-release/2009/patni-ranked-7-preferred-employer-in-dq-idc’s-best-employer-survey-2009.aspx
  10. ^ http://www.patni.com/press-release/2009/patni-named-a-challenger-in-magic-quadrant.aspx
  11. ^ http://www.patni.com/press-release/2009/patni-named-a-challenger-in-magic-quadrant.aspx
  12. ^ "Patni acquires Telecoms Consulting Specialist" (PDF). Patni. 2007-07-02. Retrieved 2007-10-04.
  13. ^ "Patni Acquires Life Sciences Services Company Taratec for $27 million" (PDF). Patni. 2007-07-23. Retrieved 2007-10-04.
  14. ^ http://www.patni.com/financial-results/annual-reports.aspx
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