3i Infotech sells US-based Global Billing and Payments unit for $137 million
Tuesday, 17th May 2011
Global information technology company 3i Infotech Ltd 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 $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 and 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.
Publication : Businessline
TAGS : 3i infotech