Non Controlling Interest

6 Months Ended

Jun. 30, 2013

2.	Non Controlling Interest

In 2012, the Company announced an exit offer to the shareholders of iGATE Computer Systems Limited (“iGATE Computer”) (formerly known as Patni Computer Systems Limited) to tender their shares to the Company at any time from May 28, 2012 until May 27, 2013. Subsequent to the expiry of the exit offer period, the Company is not under an obligation to redeem the shares and accordingly the balance redeemable non-controlling interest has been cancelled.

On May 10, 2013, the High Court of Judicature at Mumbai, India, approved the merger of iGATE Computer with iGATE Global Solutions Limited (“iGATE Global”). Pursuant to the merger, shareholders of iGATE Computer who did not tender their shares during the exit period were issued iGATE Global shares in the ratio of five equity shares of iGATE Global for twenty two equity shares of iGATE Computer. As of June 30, 2013, the Company recorded non controlling interest at fair value amounting to $6.6 million for 0.2 million shares (including 0.02 million of vested options).

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References+ Details