Patni buys Europe-based Logan-Orviss

Patni Computer Systems has acquired Europe-based Logan-Orviss International (LOI), a leading independent specialist telecommunications consulting services company.

According to a release issued by Patni to the BSE today, the consideration includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three year period. LOI ended profitable year with revenues of euro 11.8 million in 2006.

"The acquisition strengthens the company's capability in communications and media practice providing operators thought leadership and operational transformation consulting for mission critical IT initiatives," the release added.

Logan-Orviss International will become the company's telecommunications consulting & advisory practice, and will be led by Brendan Logan and Colin Orviss, the firm's co-founders.

Commenting on the acquisition, Neeraj Gupta, executive vice president of the company said, "The LOI acquisition underscores our commitment to global telecommunications and media customers. With this, Patni adds further depth to our pool of telecoms specialists enabling us to provide the best of world-class consulting and global delivery."