Wednesday, November 02, 2005

3i Infotech jumped 4% to Rs 122 after the company said it had acquired US based software company FormulaWare


1.6 lakh shares changed hands in the counter on BSE by afternoon trade.

FormulaWare specialises in software aimed at the chemical and paint
industries. 3i Infotech did not indicate the cost of the acquisition, but
said it planned to expand its offerings to the lubcricants, paint, inks and
glues industries.

This is the second US acquisition announced by 3i Infotech in less than two
months. In late September 2005, 3i Infotech acquired Innovative Business
Solutions - a US based specialty IT solutions company - for $ 3.6 million.

Over the years, 3i Infotech (earlier ICICI Infotech) has transformed itself
from the back office of ICICI Bank to a software products-cum-services
company focused on the banking, financial services and insurance field.

1 Comments:

Blogger www.ShareTipsInfo.com Team said...

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