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3i Infotech Ltd.

BSE: 532628 Sector: IT
NSE: 3IINFOTECH ISIN Code: INE748C01020
BSE 00:00 | 06 May 7.75 0.07
(0.91%)
OPEN

7.70

HIGH

7.90

LOW

7.45

NSE 00:00 | 06 May 7.75 0.10
(1.31%)
OPEN

7.80

HIGH

7.90

LOW

7.40

OPEN 7.70
PREVIOUS CLOSE 7.68
VOLUME 4358896
52-Week high 9.57
52-Week low 1.35
P/E 10.62
Mkt Cap.(Rs cr) 1,253
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.70
CLOSE 7.68
VOLUME 4358896
52-Week high 9.57
52-Week low 1.35
P/E 10.62
Mkt Cap.(Rs cr) 1,253
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

3i Infotech Ltd. (3IINFOTECH) - Company History

3i Infotech Ltd is a global Information Technology company which provides technology solutions to over 1500 customers in more than 50 countries across 5 continents spanning a range of verticals. The company provides software products IT services and Business Process Outsourcing (BPO) for a variety of industry verticals including Insurance Banking Capital Markets Mutual Funds & Asset Management Wealth Management Government Manufacturing and Retail.The company's solution and services include Managed IT Services Application Software Development & Maintenance Payment solutions Business Intelligence Document Imaging & Digitization IT consulting and various Transaction Processing services. Their Global Delivery Model provides for the best resources to be drawn from their vast talent pool across the globe to offer optimal solutions.The company is one of the top four Indian software products companies. Their quality certifications include SEI CMMI Level 5 for Software business ISO 9001:2000 for BPO ISO/IEC 27001:2005 for Data Center Operations and ISO/IEC 20000-1:2005 for Data Center Management Services.3i Infotech Ltd was incorporated in the year 1993 with the name ICICI Investors Services Ltd. The company was established with the principal mandate of servicing the ICICI Investor family by providing high quality service to shareholders bond holder and other depositors. The company was promoted by the ICICI Bank for their back office work but now they have become a global technology company.In March 1999 the company changed their name from ICICI Investors Services Ltd to ICICI Infotech Services Ltd and in March 9 2002 they further changed their name to ICICI Infotech Ltd. During the same year the company incorporated a subsidiary company in Australia named ICICI Infotech Pty Ltd for extending their business activities in Australia and New Zealand. Also in the same year they acquired the businesses of INSYST Technologies (MEA) BVI Ltd Dubai and INSYST Businesses Technologies Ltd India.In January 20 2005 the company got their present name 3i Infotech Ltd. In the same year the company formed a joint venture company named Semantik Solutions GmbH with Fraunhofer - ISST Germany to develop and market a context-based search engine on Semantic Technology.In the year 2007 the company acquired Datacons Pvt Ltd which is a software products company for the Mutual Fund Sector Stex Software Pvt Ltd Delta Services (India) Pvt Ltd and e-enable Technologies Pvt Ltd. They also acquired Rhyme Systems Holdings Ltd (Rhyme) a UK based asset management and brokerage solutions company. During the year 2007-08 the company incorporated various wholly owned subsidiaries which include 3i Infotech Consultancy Services Ltd for doing software and IT service business 3i Infotech Insurance & Re-insurance Brokers Ltd for taking up the activities of Insurance and Re-insurance Broking as well as related software and solutions activities. They also incorporated 3i Infotech (Middle East) FZ LLC in Dubai 3i Infotech (Australia) Pty Ltd in Australia and 3i Infotech (Bangladesh) Services Pvt Ltd in Bangladesh for representing the company in those regions and cater to the clients in that geography. During the year SDG Software Technologies Ltd and Datacons Private Ltd merged with the company. In USA the company acquired 51 % stake in Professional Access 100% stake in Lantern System Inc e-Power Inc Objectsoft Group and Objectsoft Global Services and J&B Software Inc. Also they acquired 100% stake in Accounting Framework Ltd and Exact Technical Services Ltd in UK.In India the company acquired 100% stake in KNM Services Pvt Ltd 50.5% in Aok In-house BPO Services Ltd and Aok In-house Factoring Services Pvt Ltd 51% in HCCA Business Services Pvt Ltd 26% stake in Taxsmile.com India Pvt Ltd and 59.5% in Linear Financial & Management Systems Pvt Ltd. Also the company acquired Transworks Kazakhstan LLC in Kazakhstan for expanding theirs market share in Russia and CIS countries. The company's subsidiary Delta Services (India) Pvt Ltd acquired 70% stake in Manipal Informatics Pvt Ltd.During the year 2008-09 the company incorporated various wholly owned entities in India and abroad which include 3i Infotech Consumer Services Ltd for doing business related to Business to Customers (B2C) services associated with Information Technology. The company also incorporated 3i Infotech Consulting Services SDN BHD in Malaysia and Regulus Holdings Inc in USA.In USA the company acquired 100% stake in Regulus Group LLC and their group companies (Regulus) through 3i Infotech Financial Software Inc a subsidiary company. In India the company acquired 51% stake in FinEng Solutions Pvt Ltd and 26% in Locuz Enterprise Solutions Ltd.During the year the company launched a country wide retail initiative named 'I-SERV' under which they provide a comprehensive range of value added services to their consumers in India. Also the company's wholly owned subsidiary 3i Infotech Consumer Services Ltd launched 'eMudhra' an initiative to provide Digital Signatures and empower Indian consumers to use technology beyond basic services.During the year the company entered into a joint venture agreement with Yucheng Technologies Ltd a leading provider of IT solutions and services to Chinese banks and financial services companies. Accordingly Elegon Infotech Ltd was set up in China for providing products and services to Banking Financial Services and Insurance (BFSI) entities in China. Also the company completed the merger of Objectsoft Global Services Inc with Objectsoft Group Inc in USA. In January 2009 the company formed strategic partnerships with ICICI Lombard Bharti Airtel Limited and Max New York Life for offering a comprehensive range of services to rural consumers under the I-SERV brand. In March 2009 they launched their office in Riyadh the capital of Saudi Arabia. In July 2009 the company increased their stake to 51% in Taxsmile.com India Pvt Ltd 60% in FinEng Solutions Pvt Ltd 100% in Aok In-house BPO Services Ltd and 100% in Services Pvt Ltd. In November 2009 Xcellink International Inc executed an agreement with the company for the development and integration of their patented software with Apple's iPhone technology. In December 2009 the company acquired a further 49% stake in Taxsmile.com India Pvt Ltd thereby making Taxsmile.com a 100% subsidiary and also a further 25% stake in Locuz Enterprise Solutions Ltd taking the company's stake to 51%.

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