The Rise and Fall of Patni Computers

Patni Computers , the name which every Indian IT guy must have heard of at least once in his career, was the Pioneer of Indian IT Offshoring model. The legendary company Incorporated by Narendra Patni in year 1978 was the leading IT consulting services and Business solutions provider in India.

Picture of Narendra Patni
Narendra Patni

Narendra Patni, a graduate in Electrical Engineering (1964) from Indian Institute of Technology, Roorkee and an MBA from MIT Sloan School of Management (2005), started the journey of bringing in the IT revolution all the way to India from a small apartment in US. Here we will look at the life of Patni computers right from its inception.

Rise of Patni: 

  • February 10, 1978 : Patni computer systems was incorporated as Patni computer systems Pvt. Ltd.
  • 1988 : ‘Patni’ became  ‘Deemed public company’ ( A company which is subsidiary of a company).
  • April 15, 1991 : Converted into Pvt. Ltd. company.
  • September 18, 2003 : Converted in Public Limited Company.
  • April 2003 : Acquired “The Reference Inc.” for US$ 7.5 million.
  • 2004: Patni offered 18,724,000 equity shares priced at Rs 230 per share.
  • 2004: Patni acquired Cymbal Corporation for US$78 mn.
  • December 2005 : Patni got listed in NYSE ( New York Stock Exchange).
  • June 2006 : Acquired ‘ZAiQ Technologies’ a Design and Verification company.
  • July 2007 : Acquired “Logan-Orviss International (LOI)”, a telecommunication consultancy company.
  • July 2007 : Acquired Taratec Development Corp, a leading life science consulting company.
  • 2008 : Listed as ‘NeoIT 2008 Global Services 100 Company’, Listed as ‘IAOP 2008 Global Outsourcing 100 Company’, Received ‘Smart Workplace Award 2008’, received ‘2008 Marketing Excellence – Diamond Award’
  • 8 November 2008 : IIT Roorkee honored Narendra Kumar Patni with the Distinguished Alumni Award.
  • 2008-2009 : 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’.
  • 2009: Patni had a revenue of US$719 million and total employee strength 14,500 (As on 30 June 2009).

Global Presence:

Having presence in 23 countries, Patni Computers was one of the biggest names in IT industry. It had offices in:

Asia Pacific (APAC)

  • India: Mumbai, Navi Mumbai, Pune, Bangalore, Chennai, Noida,Hyderabad, Gandhinagar
  • Australia: Melbourne, North Sydney
  • Japan: Tokyo

North America

  • Canada:Toronto
  • U.S.A: Cambridge, Massachusetts, Cincinnati, Jersey City, Atlanta, Costa Mesa, Southfield, Bellevue, Washington, Milpitas, Bloomington, Illinois,Irving, Texas, Bridgewater, New Jersey, Downers Grove, Illinois
  • Mexico:Querétaro

South America

  • Brazil:São Paulo

Europe, Middle East & Africa (EMEA)

  • Germany: Frankfurt
  • Sweden: Kista
  • The Netherlands: Schiphol-Rijk
  • UK: London
  • UAE: Dubai

The Fall of Patni:

  • In 2011, iGATE announced acquisition of Patni Computers, a company three times its own size with a value of around 1 Billion Dollars.
  • After iGATE’s acquision the combined entity was called as iGATE-Patni.

On 3 June 2014, Narendra Patni passed away due to cardiac arrest in Boston.

  • In the Year 2015, Capgemini  , a French company announced acquisition of iGATE, following which the Patni name vanished permanently.

This brings us to the end of legendary company ‘Patni Computers’, but is it the end or a new beginning , Patni family launched a healthcare company Currae  recently.

CurraePatni
Currae

Read: Manoj Bhargava – The man making things ‘Simple’

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