IT Solutions company 3i Infotech has penned an agreement to buy J&B Software Inc., USA and it subsidiaries. For the deal, Infotech would be paying USD 25.25 million during the conclusion of the transaction. The acquisition will be EPS accretive.
V. Srinivasan, Managing Director and CEO, 3i Infotech said, “The acquisition of J&B Software Inc. is a strategic one and will enable 3i Infotech to strengthen its positioning in BFSI segment globally”.
“We believe that through this partnership we will be able to take J&B Software solution offerings globally,” said Bala Balasubramanian, Chairman and CEO, J&B Software.
Robert Bartlett, President and COO, J&B Software said, “We are excited about this partnership, which will enhance our strength, both in USA and in other markets”.
J&B Software is involved in the business of offering software products and services that are related to transmittal processing in the United States with blue chip users. It indeed is a big bucks company with revenues of around USD 25 million.
With this move, 3i Infotech will be able to enter into the blue chip BFSI customer base in the US and enable taking J&B’s payment processing solutions to global markets, including high growth Asian markets. With this acquisition 3i Infotech will get key cross selling opportunities.
Source: Tech Shout