The year 2011 seems to have begun on a good note for merger and acquisition deals in India. In the first deal of the year, Patni Computer has been acquired by iGate for 1.22 billion US dollars or nearly 5,400 crore rupees. US-based iGate, along with Apax Partners, purchased 45.6 per cent equity held by Patni brothers and 17.4 per cent stake held by General Atlantic at a price of Rs 503.50 a share, costing 921 million dollars. The deal size will go up to about 1.22 billion dollars after acquisition of 20 per cent from public shareholders at the same price through the mandatory open offer. The previous year, 2010, was a record year in terms of the number of billion-dollar deals in which India Inc announced merger and acquisition deals worth a record 55 billion US Dollars – the highest-ever in a single year. Experts expect India Inc's shopping spree will continue in the 2011 and IT sector might see further consolidation.