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<keyword id="10863" type="COMPANY" weightage="80" keywordseo="CapGemini">Capgemini</keyword> announced yesterday that it would acquire <keyword id="20356" type="CITY" weightage="80" keywordseo="igate">IGate</keyword> for a whopping $4.04bn. A lot of you must have been wondering, where and to whom does all this money go to? In fact, some of you must have also wondered how one arrives at this mind boggling amount! Well, the company’s valuation based on its market capex aside, we at Business Insider have put together a list of names who will benefit the most from this deal. 
 
We have created a list of 9 people, entities, who will pocket several millions just by way of shareholding, which will give you a fair idea into how ne arrives at the $4 bn deal figure. 
 
<keyword id="218609" type="COMPANY" weightage="80" keywordseo="Apax-Partners">Apax Partners</keyword>, PE Firm, and largest stakeholder: $1.1 bn from 2,33,84,095 shares 
 
<keyword id="1042242" type="PERSON" weightage="80" keywordseo="Sunil-Wadhwani">Sunil Wadhwani</keyword>, Founder: $504.2mn from 1,05,06,075 shares 
 
<keyword id="1042241" type="UNKNOWN" weightage="80" keywordseo="Ashok-Trivedi">Ashok Trivedi</keyword>, Founder: $497.2mn from 1,03,59,175 shares 
 
<keyword id="376348" type="PERSON" weightage="60" keywordseo="Ashok-Vemuri">Ashok Vemuri</keyword>, CEO: $19.7mn from 4,00,000 shares 
 
Derek Kemp, EVP, Global Head Strategic Deals Team: $7.2mn from 1,50,000 shares 
 
Sanjay Tugnait, Head Americas: $7.2mn from 1,50,000 shares 
 
Sujit Sircar, CFO: $6.9 mn from 1,45,142 shares 
 
Srinivas Kandula, Global Head, HR: $6.9mn from 1,44,573 shares 
 
Satish Joshi, EVP and CTO: $6mn from 1,26,660 shares 
 
The IGate journey IGate was founded by Sunil Wadhwani and Ashok Trivedi in 1996. It went public on NASDAQ the very same year. Post a stellar few years of growth, IGate made a bid for its first major acquisition, acquiring majority stake in <keyword id="46908" type="COMPANY" weightage="80" keywordseo="patni-computers">Patni Computers</keyword> in 2011, delisting the firm a year later. Wadhwani and Trivedi roped in Apax Partners to complete the Patni acquisition, making the private equity firm a key stakeholder in the merged entity with 28.9% stake valued today at close to $1.5 bn. 
 
Given the strong growth momentum, it didn’t take long before IGate breached the $1bn revenue mark in 2012, soon after the Patni acquisition. Around May 2013, the company was riddled by an internal controversy that blew out of proportions and seriously threatened its reputation as a ‘well-governed’ company in the market. It was then that Phaneesh Murthy, its former CEO was fired over failure to disclose his personal relationship with a subordinate in the company. 
 
After several months of scouting, Wadhwani and Trivedi zeroed-in on Ashok Vemuri to takeover as IGate’s new CEO, in September 2013. Vemuri, then Infosys' board member who was also head of Americas besides chief of the manufacturing and engineering vertical, as president and chief executive officer, was known to harbour aspirations of taking over Infosys as its CEO. Once offered, Vemuri didn’t think twice before making the move. 
 
In fact, when Vemuri had quit Infosys, he was already one of the top contenders to become the firm’s first CEO, who wasn’t a co-founding member. Within the IT circuit it is said that Vemuri had had enough with the wait and watch game and decided to take on IGate’s offer almost as soon as it was made to him. 
 
In 2013, IGate also reached the $ 2bn market capex mark and completely reorganised the company in 2014 into vertical-based business units.

9 people who pocketed millions all because of the
Capgemini-IGate deal. Here’s how much each of them made

You Searched For "Sujit Sircar CFO" and got 1 results

9 people who pocketed millions all because of the Capgemini-IGate deal. Here’s how much each of them made

Debdatta Das

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