3i Infotech Buys Regulus For Rs 320 Cr
30 Apr 2008 | Print
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IT product and services company 3i Infotech has acquired the US-based Regulus Group for $80 million (about Rs 320 crore). An additional consideration of up to $20 million (Rs 80 crore) has been provided based on an earn-out linked to performance parameters.
3i Infotech has acquired close to 25 companies since 2000. Out of these, 10 were acquired in the last financial year itself. The company in total has acquired 35 firms so far.
Regulus reported revenues of $148 million (about Rs 590 crore) for the 12 months ended December 2007. The company, headquartered in Napa, California, provides remittance services and document (bills) processing services in the US through a network of ten centres employing close to 1,300 people.
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