Business

3i Info to sell product unit for ₹1,000 cr.

Technology services firm 3i Infotech has decided to sell its global software products business through a ‘slump sale’ to Mumbai-based Azentio Software, a wholly-owned subsidiary of private equity firm Apax Partners, for ₹1,000 crore, as per a regulatory filing.

3i Infotech’s product division posted a revenue of ₹442.98 crore for the year ending March 31, accounting for 38.8% of its consolidated turnover of ₹1,141 crore. The company’s software product business has intellectual property and employees in India, the U.S., the U.K., Kenya, UAE, Malaysia, Singapore, Thailand and Saudi Arabia.

The sale of the division is expected to be completed by March 31, 2021.

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Printable version | Feb 28, 2021 3:08:05 AM | https://www.thehindu.com/business/3i-info-to-sell-product-unit-for-1000-cr/article33439653.ece

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