3i Infotech Ltd. said on Tuesday that it has acquired a strategic stake of 26% in Taxsmile.com India Pvt. Ltd. (Taxsmile), with a commitment to acquire a majority stake over a period.
Taxsmile is a company engaged in Internet-based tax filing and tax advisory space for individuals.
The company believes that given the growth in the number of tax payers in the country and the position taken by the Government in the area of e-governance, this sector will see a huge growth in the years to come, 3i Infotech said.
This acquisition along with the recent acquisition of a majority stake in HCCA Business Services, a company in the area of HR and payroll management, gives a strong position to penetrate the market in the initial period of growth, 3i Infotech said.( India Infoline)