Apax, iGate Will Pay $915M For Patni Computer

Private equity firms Apax Partners and iGate will pay $915 million for a 63% stake in Patni Computer, Reuters reported. The consortium offered about 500 rupees ($11.05) per share for the company, which was trading at 488.50 rupees ($10.79) on the Bombay Stock Exchange Monday. The firms beat out a rival consortium comprised of the Carlyle Group, Advent International and Akansa Capital. The iGate-Apax consortium will take $500 million in debt to fund the deal, Reuters said.

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