3i Infotech Ltd has declared that it has signed an agreement to get hold of J&B Software Inc., USA and its divisions for about US$25.25mn.

J&B Software supplies software products and services with respect to remittance processing to blue chip clients in US. It is a lucrative company with revenues of around US$25mn.

The acquisition will be EPS accretive, 3i Infotech said.

3i Infotech said that J&B Software acquirement is a planned act for the company as it would permit access into the blue chip BFSI customer base in the United States and allow taking J&B’s payment processing solutions to international markets as well as high growth Asian markets.

The recent takeover will also provide substantial cross selling chances to the company, 3i Infotech added.

While commenting on the acquisition, V. Srinivasan, Managing Director and CEO of the Company 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.”

Bala Balasubramanian, Chairman and CEO, J&B Software stated, “We believe that through this partnership we will be able to take J&B Software solution offerings globally.”

Robert Bartlett, President and COO, J&E3 Software sounded out, “We are excited about this partnership, which will enhance our strength, both in USA and in other markets.”