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Follow UsCEO: Gerhard Watzinger www.igate.com
Brand Matters: While the ouster of Phaneesh Murthy created a shadow on iGate's brand, but overall FY13 augured well as it chased multimillion deals leveraging on its Patni acquisition. The company's outcome based business model created a flutter-for instance, last year it launched a highly visible marketing campaign for its ‘business outcomes' proposition in its primary markets-North America and UK. The company worked with the goal of shifting the traditional IT outsourcing model from ‘hours worked' basis to a strategic ‘outcomes' based proposition.
Making it Work: All the new engagements of iGate are based on its iTOPS business outcome model, and the company says it has got huge value proposition and is increasingly gaining acceptance in the industry. Its customer pipeline is strong and iGate has significantly enhanced its visibility with customers and the markets in general.
Fixing Things: Meanwhile in May 2012, the company delisted Patni from the Indian stock exchange and then also delisted its American Depositary Receipts (ADR) listing on the NYSE. To further simplify its corporate structure for enhanced governance and compliance, iGate changed the legal name of Patni to iGate Computer Systems and made similar name changes to a number of Patni's subsidiary entities as well. So clearly corporate restructuring, continuing the success of a complicated integration process, the company subsequently commenced capital restructuring efforts to simplify the complex corporate structure resulting from the acquisition of Patni, consolidate its investor base in the US and enhance shareholder value.
Upping its Ante: In August 2012, iGate inaugurated a new facility in Loudoun County, Virginia. Made investment of over $1mn in this facility and said that it will allow it to deliver a wide range of technology consulting services for government agencies and businesses, and offer ‘design-build-operate-maintain' services for federal government projects. This expansion project is expected to create 250 new jobs over the next two to three years.
iGate installed a 250-seat offshore development center for its client-the mining company, Rio Tinto in its special economic zone facility in Pune, India. Also iGate commenced development of a state-of-the-art training center in Pune. Spread across over 1 mn sqft, this center will have the capacity to seat approximately 5,000 people in 500-seat training rooms.