Patni Looking To Partner With Japanese Firm (05-Mar-2010)
Patni Computers is now tying up with a Japanese state company for an entry into this new market.
This is after being hit by the slowdown in the US and Europe over the last 2 years, IT companies are now looking for new geographies to de-risk.
Meanwhile, the western markets like the US and Europe are the bread earning market for the Indian IT companies.
But, however, the recovery is not coming about as sharp as they would like in those markets.
The second largest market for IT after the US, world over, is Japan.
While, the biggies can look to build their presence in the Japanese market, for mid tiers like Patni Computers, venturing with local entities holds the key.
Moreover, in the world of IT after the US, it is Japan that constitutes the second largest market for most IT companies.
But given the Japanese style of working, it is not an easy market to crack.
IT mid cap Major Patni Computers is looking to partner with a state run firm in Japan and target the Japanese market.
The JV aims to serve the Japanese market with development centers in China while a JV with a local partner may be good to penetrate an otherwise conservative Japanese market.
Earlier, Patni Computer, software exporter, on Feb 11 reported over 2-fold growth in consolidated net profit at Rs 188 crore for the fourth quarter ended December 31, 2009.
The software exporter had a net profit of Rs 78 crore in the fourth quarter of FY''08 as per the US accounting rules, Patni said in a filing to the Bombay Stock Exchange.
The company''s revenue at the end of the December quarter stood at Rs 789.61 crore, down from Rs 857 crore in the corresponding period a year-ago.
Previously, in order to provide consulting, risk management and actuarial services for insurance and financial services companies in an onshore and offshore delivery model, Patni Computer Systems announced expansion of its ''actuarial centre of excellence''.
ACETM offers a wide range of services from consulting to loss monitoring, reserving, pricing, profitability analysis, experience analysis and statutory reporting.
Patni Computer Systems Ltd., is a provider of Information Technology services and business solutions.
The company employs over 14,500 people, and has 23 international offices across the Americas, Europe and Asia-Pacific, as well as offshore development centres in 8 cities in India. Patni''s clients include more than 200 Fortune 1000 companies.
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