 "IT services firms")
IT services firm 3i Infotech on Monday said that the company’s software product business has been acquired by private equity firm Apax Partner for a consideration of about Rs 1,000 crore.
The deal values the software business higher than the market capitalisation of the entire company (3i Infotech) which stands at around Rs 908 crore.
According to the joint statement issued by 3i Infotech and Apax partner, the software products business will be acquired by a newly formed company named Azentio Software, wholly-owned by the Apax Funds. The transaction, subject to shareholder approval and relevant regulatory approvals, is expected to
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