Patni Acquires US-Based ZAiQ Technologies
Acquisition adds ASIC design, verification and validation expertise to company's Product Engineering Services practiceCAMBRIDGE, Mass. -- June 30, 2006
-- Patni Computer Systems, a global IT consultancy and solutions provider, announces the acquisition of ZAiQ Technologies, a design and verification company, in Woburn, Mass.
Through the transaction, Patni obtains ZAiQ's Application-Specific Integrated Circuit (ASIC) design capabilities and Intellectual Property (IP), as well as expertise in Field-Programmable Gate Arrays (FPGA) and System-on-a- Chip (SoC) technologies.
Patni also gains access to ZAiQ's IP in verification and validation, which includes a family of high performance verification products focused on chip, board and system level testing. These pre-configured, transaction-based environments reduce the time required to verify ASIC and FPGA-based systems.
"ZAiQ Technologies is a perfect fit with Patni," said Ajay Chamania, head of Product Engineering Services, Patni. "The addition of its expertise and customer base will enable us to meet the growing demand we have been experiencing for ASIC-based services in vertical markets such as consumer electronics, telecom, computing and wireless."
According to a NASSCOM 2006 strategic survey report, Indian IT and ITES export revenues from engineering, R&D and offshore product development have grown tenfold from $300 million in 2001-2002 to over $3.1 billion in FY 2004- 05, and are projected to reach $3.9 billion by the end of fiscal year 2005- 2006.
"Patni has an impeccable reputation in the engineering market and a strong commitment to growth in the Product Engineering Service business," said Jim Pena, ZAiQ Technologies vice president, now vice president in Patni's Product Engineering Services organization. "With ZAiQ's expertise spanning more nearly 500 design and verification projects, I am confident the synergies between both companies will create an outsourced engineering powerhouse."
Patni's Product Engineering Services (PES) business unit has enjoyed aggressive growth over the last 18 months, with the practice area doubling in size and contributing 7.5 percent to the company's revenue during 2005.About ZAiQ Technologies
Headquartered in Woburn, Mass., ZAiQ Technologies, Inc. is a leading provider of verification solutions for companies that develop complex telecommunications, networking and computer products. Its innovative domain- specific design methodologies enable the creation and integration of reusable IP. As a result, customers are able to achieve breakthroughs in the time-to- market while substantially reducing the development costs of complex systems. Information about ZAiQ and its products and services are available by at http://www.zaiqtech.com/
Patni Computer Systems Limited (BSE: PATNI) is a global IT Services provider servicing Global 2000 clients. Patni caters to its clients through its industry-focused practices, including insurance, manufacturing, financial services, telecommunications, and its technology- focused practices.
With an employee strength of over 12,000 and multiple offshore development facilities across eight cities; Patni has 23 international offices across the Americas, Europe and Asia-Pacific. Patni has registered revenues of US$ 450 million for the year 2005.
Patni's service offerings include application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, business process outsourcing and quality assurance services.
Committed to quality, Patni adds value to its client's businesses through well-established and structured methodologies, tools and techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMi Level 5 organization, assessed enterprise wide at P-CMM Level 3. In keeping with its focus on continuous process improvements, Patni adopts Six Sigma practices as an integral part of its quality and process frameworks.
For more information on Patni, visit http://www.patni.com/
Contact Zaiq Technologies, Inc.