3i Infotech buys Bangalore-based tech company

New Delhi, Apr 17: IT solutions service provider 3i Infotech Ltd today said it had acquired Datacons, a Bangalore-based software products company with annual revenues of 5 million dollars.

The company, however, did reveal how much it paid for the acquisition.

Datacons, which offers niche products for the mutual funds segment in the BFSI space, has 250 employees and is an SEI CMM Level 4 organisation with a global client base and offices across the globe.

3i Infotech Managing Director and CEO V Srinivasan said, ''3i Infotech is a solutions provider focused on the BFSI segment. We already have a powerful suite of offerings in the banking, insurance and capital markets space. The acquisition 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.''

UNI