IGATE

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IGATE Corporation
subsidiary
Industry IT services, BPO
Fate acquired by Capgemini
Founded 1996[1]
Defunct 2015
Headquarters Bridgewater, New Jersey, U.S.
Area served
North America, Europe, Japan & Australia
Key people

Sunil Wadhwani (Co-Founder)[2]

Ashok Trivedi (Co-Founder)[3]

Srinivas Kandula (Chief Executive Officer)[4]
Services IT and Outsourcing services
Revenue Increase US$ 1.27 billion (2014)[5]
Number of employees
31,453 (March, 2015)
Parent Capgemini
Website www.igate.com

IGATE was an IT services company, headquartered in Bridgewater, New Jersey, United States. The firm operated in North America, Asia, Europe, Japan and Australia, providing technology consultancy and services. Its revenues in 2014 were over US$1.2 billion, and it has a workforce of over 31,000. The firm had over 70 offices and customer delivery centers in North America, Europe, Asia and Australia. On April 27, 2015 French IT services group Capgemini unveiled a deal to acquire IGATE in a $4bn deal.[6]

History

Under the Companies Act, 1956, iGate was originally incorporated as Mascot Systems Private Limited in 1993, and later renamed Mascot Systems Limited. It was formerly a subsidiary of Mastech Systems Corporation, now Mastech Digital.[7]

In 2011, IGATE, acquired Patni Computer Systems–a company three times its size at the time.[8] With a value of around a billion US dollars, this acquisition was the largest cross-border leveraged transaction in the IT sector.[citation needed] The acquisition was accomplished over 12 months, including the delisting of Patni from the Indian bourses and consolidating the shareholder value in the U.S.[citation needed] Initially. iGATE firm changed its name to iGATE Patni. It was changed to IGATE again on 7 May 2012. Its shares are listed on the NYSE as "IGATE". On 27 April 2015, Capgemini announced it would be acquiring IGATE, the transition would be completed over a phase of 6 months. IGATE CEO Ashok Vemuri announced his departure on 6 October 2015.[6]

Key services

IGATE's key services included Application Development and Application Maintenance, Business Intelligence and Analytics, Business Process Outsourcing, Cloud Services, Enterprise Mobility, Infrastructure Management Services, P&ES Embedded systems, Product Verification and Validation(P&ES), and Verification & Validation(V&V).

Locations

Its customer delivery centers were located in Pensacola, Florida; El Paso, Texas; Sterling, Virginia, United States; Guadalajara, Mexico; Mississauga, Ontario, Canada; Stockholm, Sweden; London, UK; Ballarat, Australia; Suzhou, China; and Mumbai, Bangalore, Pune, Chennai, Hyderabad, Noida and Gandhinagar in India. Its training and development facility, IGATE Corporate University, was in Pune.

Situated on 50 acres (200,000 m2) of land in the Navi Mumbai area, this campus included facilities for software development, training, customer care, and employee recreation. The IGATE (Patni) Knowledge Park accommodates 17,000 professionals.[9]

Awards

  • Ranked 51st in Fortune's100 Fastest Growing Companies list in 2014.[10]
  • VCCircle Award 2014[11] under the category - Best PE/VC backed IT Company of the Year 2013.

References

  1. ^ "iGATE Corporation - Annual Report". igate.com. Archived from the original on 3 December 2013.
  2. ^ "Bloomberg: Sunil Wadhwani Profile". Bloomberg.
  3. ^ "iGate Co-Founder Trivedi Floats $500m Family Office". Times of India.
  4. ^ "IGATE appoints Ashok Vemuri as president and CEO". The Economic Times.
  5. ^ "About Capgemini - Capgemini Worldwide". Capgemini Capgemini Worldwide. Archived from the original on 20 January 2015.
  6. ^ a b "Capgemini to buy IGATE in $4bn deal". FT. 27 April 2015.
  7. ^ "Capgemini Technology Services India Information - The Economic Times". economictimes.indiatimes.com. Retrieved 2018-04-23.
  8. ^ "IGATE completes Patni acquisition". Business Standard. 13 May 2011.
  9. ^ "Patni software park to seat 17,000". Rediff.com. Retrieved 16 July 2010.
  10. ^ "IGATE". Fortune.
  11. ^ "Winners 2014". vccircle.com. Retrieved 2015-04-28.
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