IGate News

Kandula played a key role in the acquisition of Patni by IGATE in 2011, and of IGATE by Capgemini in 2015.

Capgemini Tuesday said IGATE CEO Ashok Vemuri has put in his papers after three months of the US-based firm being acquired in a USD 4 billion deal.

The fair trade regulator, which keeps a tab on unfair business practices across sectors, has approved the acquisition as the deal may not have an adverse impact on competition in the country.

Days before IGATE was acquired by French IT giant Capgemini, the US-based firm sold off its domestic infrastructure management services (IMS) operations to India's MindSquare Technologies for about USD 5 million.

As many as five US-based law firms are investigating charges of whether IGATE Board of Directors failed to maximise gains of shareholders before inking the multi-billion dollar deal with French rival Capgemini.

IGATE's acquisition by French rival Capgemini will make its CEO Ashok Vemuri richer by over USD 19 million (about Rs 120 crore).

French IT services and consulting company Capgemini said today it was buying New Jersey-based IGATE for USD 4 billion (3.7 billion euros), boosting its US-generated business to 30 per cent of its total activity.

Entering a new arena, former iGate CEO Phaneesh Murthy is launching an online market place for healthcare products and services in partnership with four professionals.

US-based outsourcing solutions firm IGATE on Tuesday reported a 14.8 percent growth in net profit at USD 38 million for the fourth quarter ended December 31, 2014, helped by deals in industry utility-solutions.

US-based outsourcing solutions firm IGATE Wednesday reported a 17 percent growth in net profit at USD 37.3 million for the third quarter ended September 30, 2014, aided by growing traction in segments like financial services, healthcare and industry utility solutions.

Outsourcing solutions firm IGATE will focus on its integrated technology and operations (ITOPS) model, besides concentrating on automation and geographies like Europe to sustain its growth momentum.

US-based outsourcing firm IGATE today said its net profit declined 89.6 percent to USD 3.1 million for the quarter ended June 30, 2014 hit by a one-time charge related to a debt settlement.