3i Infotech sells billing and payments unit for USD 137 mn

Rs 617 crore deal to strengthens the balance sheet of 3i Infotech

PTI | May 16, 2011



Global information technology company 3i Infotech Limited has signed an agreement to sell its US-based Global Billing and Payments unit, consisting of Regulus Group and J&B Software, to an affiliate of Cerberus Capital Management LP for USD 137 million (Rs 617 crore).

3i Infotech acquired J&B Software in 2007 and Regulus Group in 2008, and the companies were integrated to form the Global Billing & Payments unit of 3i Infotech, according to a company statement.

The transaction is expected to close within the next 60 days, subject to customary closing conditions and any regulatory approvals.

"The divestment reduces the leverage and strengthens the balance sheet of 3i Infotech," said 3i Infotech Managing Director & Global CEO V Srinivasan.

"This enables 3i Infotech to go back to its roots as a significant IT products and services player while at the same time allowing the billing and payments unit to be acquired by an organisation interested in growing it as an independent company."

Cerberus Managing Director and spokesperson Tim Price said: "Cerberus has the financial resources and operational expertise to help this business build additional value through operating efficiencies and growth. As a standalone entity, the company will continue to focus on delivering the best products and highest quality services to its clients."

"We are looking forward to partnering with Cerberus on the next stage of our company's growth," said Kathy Hamburger, the Chief Executive Officer and President of the US-based Global Billing and Payments division.

Cerberus Capital Management is a private investment firm with USD 23 billion of capital under management.

Shares of 3i Infotech were trading at Rs 50.35 in early trade on the BSE, up 0.70 per cent from the previous close.
 

Comments

 

Other News

Beyond LPG: Is PNG ready for India’s next cooking fuel transition?

India, the second-largest importer and consumer of LPG after China, faces growing pressure due to supply constraints. Most of India`s LPG imports transit through the Strait of Hormuz, a focal point of global turmoil. Given that LPG forms the backbone of household kitchens and the restaurant industry, any s

Maharashtra adopts hybrid model for Census 2026 data collection

The government has initiated preparations for Census 2026 in Maharashtra, introducing a hybrid approach that combines optional self-enumeration with comprehensive door-to-door data collection to ensure complete coverage across the state.   According to senior officials, the Self-

What the nine Indian Nobel winners have in common

A Touch Of Genius: The Wisdom of India’s Nobel Laureates Edited by Rudrangshu Mukherjee Aleph Books, Rs 1499, 848 pages  

Income Tax dept holds Ghatkopar Outreach on new IT Act

The Income Tax Department organised an outreach programme in Ghatkopar, Mumbai, to raise awareness about the key features of the Income Tax Act, 2025, effective April 1, 2026. The initiative is part of a nationwide effort to promote taxpayer awareness, simplify compliance, and strengthen a transparent, eff

Making AI work where governance is closest to people

India’s next governance leap may not solely come from digitisation. It will come from making public systems more intelligent, more adaptive, and more responsive to the dynamics at the grassroots. That opportunity is especially significant at the panchayat level, where governance is not an abstract po

Borrowing troubles: How small loans are quietly trapping youth

A silent crisis is playing out in the pocket of young India, not in stock markets or government treasuries, but in smartphones of college students and first-jobbers who clicked on the Apply Now button without reading the small print.  A decade ago, to take a loan, you had to do some paperwor


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter