Patni Computer buys ZAiQ Tech for $425,000

Patni Computer Systems Ltd said on Monday it has acquired ZAiQ Technologies, a small ASIC design company, in Woburn, Massachusetts, by an asset purchase transaction for $425,000.

The company is buying intellectual property in Application Specific Integrated Circuit design and validation space, active customer contracts and business pipeline along with a sales head and trademarks including other capital assets like hardware and software, Patni informed the Bombay Stock Exchange.

ZAiQ would provide ASIC capabilities for Patni's PES business unit. Patni aims to benefit from ZAiQ's technical capabilities and would get access to ZAiQ's intellectual property for verification and validation.

ZAiQ Technologies is a principal provider of outsourced design services and software products to companies that develop complex, high-performance systems and integrated circuits.

Shares of the company were trading at Rs 347.70, down 0.70 per cent at the BSE.

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