3i Infotech acquires Bangalore-based Datacons

Bangalore, Apr 17 (UNI) 3i Infotech, a global provider of IT solutions and services, today announced that it had acquired Datacons, a city-based software products company offering niche products for the Mutual Funds segment in the BFSI space.

Datacons was a profitable company with annual revenues of approximately USD five million and 250 employees.

Commenting on the acquisition 3i Infotech Managing Director and CEO V Srinivasan, in a release here, said ''The acquisition of Datacons will further enhance our BFSI offering and bridge the current gap in our product portfolio by addressing the needs of the Mutual Funds, which is a high growth segment.'' The acquired product list included MFund/AM, MFund/ISS, MFund/Dealing.

While MFund/AM was a proven, comprehensive application suite for fund accounting and investment management of mutual funds, unit trusts, asset management companies and FIIs, MFund/ISS was a product based on contemporary web-based architecture, addressing the investor servicing needs of asset management companies as well as the investor fraternity.

MFund/Dealing was a comprehensive front-office automation system for investment managers addressing requirements in the dealing, pre-dealing and decision support areas, the release added.

Datacons was an SEI CMM Level 4 organization with a global client base and offices across the globe.

UNI RG SKB1702