3i Infotech Signs Agreement for Sale of US-based Billing and Payments Unit to Cerberus Capital Management, L.P. for USD 137 million
Subsidiaries Formerly Known as Regulus Group and J&B Software to Operate as Single, Standalone Company
Mumbai, India, New York, NY, and Edison, NJ – May 16, 2011 – 3i Infotech Limited (NSE: 3IINFOTEC.NS), a global information technology company, signed an agreement to sell its US-based Global Billing and Payments unit, consisting of Regulus Group and J&B [...]
3i Infotech Ltd., Mumbai, says it’s agreed to sell J&B Software, of Plymouth Meeting, and Regulus Group, of Edison, NJ, to Cerberus Capital Management, the giant New York-based buyout firm, for $137 million.
(Cerberus is best known for its investments in Chrysler and other industrial companies, but financial tech is not a completely new area for Cerberus, [...]
MUMBAI: 3i Infotech Financial Software, a step-down subsidiary of 3i Infotech, has entered into 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.
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