I-GATE GLOBAL SOLUTIONS: The Problem of Size

Viv Penninti made co-CEO to head iGate Data Management, the Hyderabad delivery center Number of acquisitions, including the recent purchase of a Delhi-based contact center

This Bangalore-based company took a major beating post 9/11 and realized that
Tier 2 companies would suffer as the market showed a tendency toward scale.
Fiscal ’03 was, therefore, marked by an attempt to counteract that trend. As a
result, Mascot Systems reverted to using the name of its parent company which
has better branding and is better known in the US. It also went the inorganic
way to achieve growth, with the acquisition of its North American iGate
subsidiary–eJiva Inc–as well as eJiva's Hyderabad based offshore center,
Aqua Regia. The company recently bought Quintant, a BSP company for Rs 86.9
crore in cash. Heavy reliance on GE–which brings in 51% of revenues–and exit
of some major customers made a big dent on the topline. Overall, blended billing
rates fell 17% during the year.

CEO: Gerhard Watzinger & Viv Penninti Start-up year: 1994 Products & services: SW solutions and services Employees: 1,765 Address: #1, Main Road, Jakkasandra, Koramangala Extension, Bangalore Tel: 5521701 Website: www.mascotsystems.com