Patni Computer Systems Ltd Tuesday announced the acquisition of Europe-based Logan-Orviss International, an independent specialist telecommunications consulting services company.
The consideration includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three year period.
Patni Computer share was up 1.26 per cent at Rs 520.70 on the news. In comparison, the Sensex was up 0.68 per cent and BSE IT Index up 0.5 per cent.
Logan-Orviss will become Patni’s telecommunications consulting & advisory practice, and will be led by Brendan Logan and Colin Orviss, the firm's co-founders, a notice on BSE said.Logan-Orviss’ revenue stood at euro 11.8 million in 2006.
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