Edelweiss Financial Services acted as the exclusive sell side advisor to 3i Infotech Limited for the sale of its software products business to Apax Partners

Since its incorporation in 1993, 3i Infotech has been providing a range of IT services and software products to 1,200+ customers across multiple industry verticals in over 50 countries. The company operates through two business segments: Services and Software Products:

In the Services segment, under the brand Altiray®, the company provides consulting services, business optimisation services and an extensive expertise in mobility, data analytics, big data, testing and application development. The oftware Products business comprises a comprehensive set of core software products for customers in banking, financial services and insurance (“BFSI”) verticals and includes key products such as Kastle™ (universal banking platform), AMLOCK™ (financial crime detection and compliance software suite), Premia™ Astra (core insurance software), MFund™ Plus (asset management platform) and Orion™ (enterprise resource planning software).

Edelweiss Financial Services has successfully closed a transaction as the exclusive sell side advisor to 3i Infotech Limited for the 100% stake sale of its software products business to Apax Partners. The Software Products business will be acquired by a newly formed company named Azentio Software, wholly owned by the Apax Funds. Following the transaction, 3i Infotech will continue to pursue strategic growth initiatives in the IT services business, supported by a stronger balance sheet. The transaction will revitalise growth and accelerate value creation for all stakeholders of 3i Infotech, including customers, employees and shareholders. The newly formed Azentio Software will be supported by Apax Funds, with increased investments in R&D and sales and marketing. Azentio Software will focus on investing in its current product portfolio, launching new products and providing best in class service levels to all customers. Apax Funds will also use Azentio as a platform to do M&A across the BFSI software space in the region.