FREMONT, Calif., Jan. 11, 2012 (GLOBE NEWSWIRE) -- iGATE
Corporation (iGATE or the Company) (Nasdaq:IGTE), the
integrated technology and operations Company providing
Business Outcomes based solutions under the brand name iGATE
Patni, announced today that it has extended its exchange
offer of its 9% Senior Notes due 2016, which have been
registered under the Securities Act of 1933, as amended, for
all outstanding 9% Senior Notes due 2016 (the
"outstanding notes") that were issued and sold by
iGATE Corporation in April 2011 in a private placement
offering.
The exchange offer, previously scheduled to expire on January
10, 2012 at 5:00 p.m., New York City time, will now expire
on
January 12, 2012, at 5:00 p.m., New York City time, unless
further extended by iGATE Corporation.
Approximately $ 769,674,000 in aggregate principal amount, or
99.9%, of the outstanding notes were tendered in the
applicable exchange offer as of 5:00 p.m., New York City
time, on January 10, 2012. The extension is intended to allow
additional time for holders of the remaining outstanding
notes to tender their outstanding notes in the exchange
offer.
Copies of the exchange offers prospectus and letter of
transmittal may be obtained from the Exchange Agent,
Wilmington
Trust, National Association at (302) 636-6181.
This announcement is not an offer to sell any securities or a
solicitation of any offer to buy any securities. The exchange
offer will be made only by means of a written prospectus.
'iGATE Patni' is the common brand identity of two
organizations -- iGATE and Patni. With iGATE Corporation
having acquired a majority stake in Patni Computer Systems
Limited, the two companies, under the common brand iGATE
Patni, provide full- spectrum consulting, technology and
business process outsourcing, and product engineering
services on a Business
Outcomes-based model. Armed with over three decades of IT
Services experience and powered by the iTOPS (Integrated
Technology and Operations) platform, iGATE Patni's
multi-location global organization with a talent pool of
26000+ people, consistently delivers effective solutions to
over 360 Fortune 1000 clients spanning across verticals like:
banking & financial services; insurance & healthcare; life
sciences; manufacturing, retail, distribution & logistics;
media, entertainment leisure & travel; communication, energy
& utilities; public sector; and independent software vendors.
Visit: www.igatepatni.com.
iGATE Corporation is listed on NASDAQ (IGTE), and Patni
Computer Systems Limited on BSE (532517), NSE (PATNI) and
NYSE (PTI).
The iGATE Patni brand logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5150
"Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995: Statements in this
press release regarding iGATE Patni's business which are
not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a
discussion of such risks and uncertainties, which could cause
actual results to differ from those contained in the forward-
looking statements, see "Risk Factors" in the
Company's Annual Report or Form 10-K for the most
recently ended fiscal year.
CONTACT: Investor Contact
Araceli Roiz
+1 (510) 896 3007
Araceli.roiz@igatepatni.com
Investor Contact
Araceli Roiz
+1 (510) 896 3007
Araceli.roiz@igatepatni.com
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iGATE Corporation Announces Extension of the Exchange Offer for Its 9% Senior Notes Due 2016 |