General Atlantic, could possibly be looking to exit from Patni Computers

General Atlantic, could possibly be looking to exit from Patni Computers; owns about 16% in Patni

Private equity investment firm, General Atlantic, could possibly be looking to exit from Patni Computers. It owns about 16% in Patni. CNBC-TV18′s Kritika Saxena reports.

CNBC-TV18 had told you earlier that GA is looking for a possible exit from Patni Computers. It owns about 16% in Patni. What we have picked up from our sources is that they were in talks with IBM and private equity players namely Bain Capital and Apax Partners for a possible buy and were expecting a 10% premium to the current market price of USD 180 million.

Jeya Kumar, CEO, Patni says, “General Atlantic has been with the company for more than 6 years. They have been a very strong partner. We get a lot of help through them and access to customers and to their portfolio companies. By nature of their business they invest in companies and at a certain time they will exit. To me, an investor invests so that they can reap their harvests, and I think it is getting there.”

Jeya Kumar said that while he clearly couldn’t comment on speculation he clearly outlined that this would be the next natural process. He also said that Patni would be looking at acquisitions for Enterprise Operating Solutions (EOS). In the BPO space they were expecting to reach a cash flow position of about USD 400 million by the year end and would expect something to happen soon.

No related posts.