Friday, 24 March, 2023

Apax to buy software business of 3i Infotech for Rs 1,000 cr

<p>Apax Partners will buy the software business of IT services company 3i Infotech for Rs 1000 cr, &nbsp;possibly the first PE buyout of an Indian software firm. The software business that generates $60 mn in revenues will be carved out of the firm through a business transfer agreement, while it will continue to own the IT services business that generates $100 mn of business, &nbsp;The deal will help pay out the Rs 800 cr debt of 3i Infotech.</p> <p>&nbsp;</p>