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iGate-Patni deal will help cut costs for both companies

NEW DELHI: Industry analysts on Friday said conclusion of an estimated $1 billion deal for acquisition of a majority stake in Indian IT services firm Patni Computer Systems by a consortium of U.S.-based iGate and Apax Partners would be good for the entire industry.

“It will be good for the industry and Patni specifically, which has seen such efforts (for a stake sale) in the past. With the closure of the deal, Patni will have a clear road map for the future,” PriceWaterhouseCoopers Associate Director Abhijeet Ranade told PTI.

The deal would help both companies optimise cost and efficiency, as well as explore new verticals, another analyst said.

The Patni promoters are likely to sign a deal with iGate next week. Both Patni and iGate officials declined to comment. — PTI

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