3i Infotech acquires U.S. firm

By agencies   |   Tuesday, 27 September 2005, 19:30 IST
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HYDERABAD: Hyderabad based 3i Infotech Ltd has acquired a U.S. IT consulting company Innovative Business Solutions Inc. The transaction is expected to be EPS accretive. Innovative Business Solutions is a profitable company established in 1994 and has revenues of $ 7.2 million. It provides high end consulting services in segments like Enterprise Application Integration, Business Intelligence and IT security. It has about 75 employees and services an impressive list of customers in the U.S. V Srinivasan, Managing Director and CEO of the company said, "We believe the acquisition brings in lot of value to our organization by augmenting our geographic reach and customer base in the U.S., and niche consulting skills."

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