3i Infotech’s step down subsidiary - 3i Infotech Financial Software has concluded the sale transaction agreement entered with Cerberus Capital Management, L.P. on June 30, 2011. Earlier, 3i Infotech Financial Software had signed an agreement to sell its US-based Billing and Payments unit, consisting of Regulus Group and J&B software, to an affiliate of Cerberus Capital Management, L.P. for $137 million.
3i Infotech Financial Software acquired J&B Software and Regulus Group in 2007 and 2008 respectively. Post acquisition the companies were integrated to form the Global Billing and Payments unit of 3i Infotech. The transaction is expected to close within the next 60 days, subject to customary closing conditions and any regulatory approvals.
3i Infotech provides software products and IT services for the Banking, Financial Services and Insurance (BFSI); Manufacturing, Retail and Distribution and Government verticals. It has introduced various IT products like PREMIA, KASTLE, AMLOCK, Tradis, MFund, C-matis, Xroadz, DataFlo, Quantis, Telesto, DataScan.online and CRx.
