iGATE removes Patni from brand name

BANGALORE, May 7: A year after it completed the acquisition of Patni Computer, iGATE Corporation today announced new identity, dropping Patni from its brand name.The new brand identity of the subsidiary of the US-based consulting, technology and BPO firm will be now just iGATE, the company said.In January last year, iGate-led consortium had bought nearly 63 per cent stake in India�s sixth largest IT firm Patni Computer Ltd for about USD 921 million (Rs 4,188 crore).The Completion of the acquisition was announced on May 12, 2011 and company was called �iGATE Patni�.Unveiling the new brand, iGATE CEO Phaneesh Murthy said, "I have always articulated that Patni, being a family name, is difficult to protect in several of our markets. This brand change is in line with our vision of �one company� that will follow the successful delisting offer process of Patni with the Indian stock exchanges."He said in the statement, "With a revenue run rate of over a billion dollars and over 27,000 employees, the new iGATE symbolises a young and vibrant brand representing the merits of a fully integrated entity.Murthy said that the company, equipped with an innovative mindset of a game-changer, will engage with global customers to deliver high-impact outcomes through our proprietary iTOPS framework. (PTI)