Patni’s Rs 500cr facility for city

Hyderabad, Jan. 11: Patni Computer Systems Ltd. will be setting up a campus in Hyderabad to expand its telecommunications software, and other verticals, development, Neeraj Gupta, head of Patni’s telecom business unit, said on Wednesday. Speaking to this newspaper after signing an MoU with the State government for the campus, Mr Gupta said Patni Computer Systems would be investing Rs 500 crores in the Hyderabad operations in a phased manner.
The State government has allocated 30 acres of land for Patni’s campus at Pappalguda outside Hyderabad. “Patni currently has 250 people at the Hyderabad centre, following the acquisition of Cymbal Corporation in November 2004. Cymbal had a strong presence in the telecommunications space, and development centres in Hyderabad and Pune. We have completed the integration of Cymbal’s operations with Patni,” Mr Gupta said.
Patni Computer Systems had acquired Cymbal Corporation, of which Mr Gupta had been CEO, in November 2004, for US $68 million. While Patni paid $35 million in cash on the date of acquisition, $33 million is to be paid over three years based on meeting projected revenue and profit targets. “The Hyderabad centre of Patni will focus on the niche telecommunications software, but we will be setting up services for other verticals as well.”