Patni Computer Systems, a Mumbai-based IT services provider, today announced the acquisition of Europe-based Logan-Orviss International (LOI), a leading independent specialist telecommunications consulting services company.
The acquisition 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. LOI ended 2006 with revenues of ¤11.8 million.
The current acquisition strengthens Patni’s capability in the communications and media practice. Logan-Orviss International will become Patni’s telecommunications consulting and advisory practice, and will be led by Brendan Logan and Colin Orviss, the firm’s co-founders.
(Source: Business Standard)
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