US software firm iGate, backed by private equity firm Apax Partners, has agreed to acquire a majority stake in Patni Computer for $862 million, two sources with knowledge of the matter said, marking one of the largest deals in India's technology sector.
iGate and Apax have agreed to pay Rs 503.50 a share for a 63 per cent stake in Patni, the sources said, adding that the price does not include fees for a non-compete clause in the agreement.
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