Deal Struck Between Cerebus and 3i InfoTech

Deal Struck Between Cerebus and 3i InfoTechThere has been a deal signed between the IT firm, 3i InfoTech Limited and a US based firm known as Cerebus Capital Management. This deal has been signed so that there can be the shift of ownership of Global Billing as well as payment unit in affiliation with the latter firm.

The deal has been struck for a sum of USD 137 Million and is one of the major private investment firms of the nation.

The J&B software firm was taken over by 3i InfoTech in the year 2007. It had also taken over Regulus group in the year 2008. There are still a few minor formalities to be completed after which the deal shall be finalized; it might take about two months for the same.

"This enables 3i InfoTech to go back to its roots as a significant IT products and services player while at the same time allowing the Billing and Payments unit to be acquired by an organization interested in growing it as an independent company”, said V. Srinivasan, Managing Director & Global CEO, and 3i InfoTech.

The director and spokesperson for Cerebus was of the view that the deal shall be of great benefit for the development of both firms.




Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate