Advisor to 3i Infotech on the sale of its oracle e-commerce implementation business to Zensar Technologies.

Professional Access Software Development Pvt. Ltd, a step down subsidiary of 3i Infotech Limited (the “Company”), has completed a transaction for the sale of its entire business undertaking to Zensar Technologies Ltd. by way of a slump sale in an all cash deal. Further, in another transaction, 3i Infotech Holdings Pvt. Ltd., a Mauritius based subsidiary of the Company, has completed the transaction for the divestment of its stake in Professional Access Ltd. and has sold its entire shareholding to Zensar Technologies Inc. for a cash consideration

Professional Access is one of the largest Oracle E-Commerce implementation experts globally, with presence in US, UK, Latin America, Middle East and Africa. It provides end-to-end e-commerce consulting & technology solutions to several Fortune-500 retailers, telecom giants & others.

The transaction marks an end to the Company’s ownership by 3i Infotech, under whose leadership the company grew from strength to strength over the last several years. The management team of Professional Access will continue to manage day-to-day operations.

Charanjit Attra, Executive Director & Global Chief Financial Officer at 3i Infotech said, “This transaction is in line with our overall strategy of maximizing shareholder value by focusing on our core businesses. Our best wishes with Zensar & the management team at Professional Access for the future.”

Gaurav Deepak, Managing Director at Avendus Capital stated, “This transaction reflects the strong interest in assets providing e-commerce & digital transformation services. I am excited about Avendus’ ability to deliver transaction solutions to our clients combining its insight into the industry and leveraging its relationships with global companies and funds. “

Avendus Capital was the exclusive financial and strategic advisor to 3i Infotech for this transaction.

About 3i Infotech

Incorporated in 1993, 3i Infotech is a public global Information Technology company committed to Empowering Business Transformation. A comprehensive set of IP based software solutions (20+), coupled with a wide range of IT services, uniquely positions the company to address the dynamic requirements of a variety of industry verticals, predominantly Banking, Insurance, Capital Markets, Asset & Wealth Management (BFSI). Furthermore it offers solutions to the government, manufacturing, retail, distribution, telecom and healthcare sectors. Among its repertoire of IPR based solutions the flagship products of the Company are Premia, MFund, Orion, Kasle ULS, Amlock and RhymeSight. The Company is also focused on value added services such as business intelligence & analytics services, infrastructure management services, testing & compliance, application development & maintenance, consulting and its BPO offerings. The Company, headquartered in Mumbai, India has over 9,000 employees in more than 27 offices across 12 countries and over 1500 customers in more than 50 countries across 5 continents.

For more information, please visit www.3i-infotech.com 

About Professional Access

Headquartered in the US, Professional Access is one of the oldest and largest focused Oracle ECommerce partners globally. With its strong and deep domain expertise & experience of completing over 180 successful deployments, it is the preferred partner for large, complex implementations of Oracle ATG & other E-Commerce technologies. It has global delivery capabilities & has completed implementations in US, UK, Middle East, South Africa, South America & Asia

For more information, please visit www.professionalaccess.com 

About Zensar Technologies

Zensar Technologies is a technology services provider to global organizations looking to strategically transform, grow, and lead in today’s challenging business environment. It is now leading the way in powering next-generation enterprises with its cloud, mobility and social media solutions. Backed by a strong track-record of innovation, nearly 6,500+ associates and footprint in more than 20 global locations, Zensar’s comprehensive range of software services and solutions enable its 400+ forward-looking customers to cross new thresholds of business performance. The Company has a services portfolio that ranges from the traditional to the transformational - across service lines of Management Consulting, Business Application Services, Enterprise Solutions, Enterprise Collaboration Services, Testing and Assurance Services, BPM and Infrastructure Management Services. Zensar’s experience across industries of Retail, Manufacturing, Insurance, Banking, Healthcare and others translate into a differentiated value proposition and faster time-to-market for clients.

For more information, please visit www.zensar.com 

About Avendus Capital

Avendus Capital is a leading financial services firm which provides customised solutions in the areas of financial advisory, equity capital markets, alternative asset management and wealth management. The firm relies on its extensive track record, in-depth domain understanding and knowledge of the economic and regulatory environment, to offer research based solutions to its clients that include institutional investors, corporations and high net worth individuals/families. In recent years, Avendus Capital has consistently been ranked among the leading corporate finance advisors in India and has emerged as the advisor of choice for cross-border M&A deals, having closed around 40 cross-border transactions in the past 5 years. Avendus PE Investment Advisors manages funds raised from its investors by investing in public markets, while Avendus Wealth Management caters to investment advisory and portfolio management needs of Family offices and Ultra High Networth Individuals / families, spanning all asset classes. Headquartered in Mumbai, the firm has offices in New Delhi and Bangalore.

Avendus Capital, Inc (US) and Avendus Capital (UK) Pvt. Ltd. located in New York and London respectively are wholly owned subsidiaries offering M&A and Private Equity syndication services to clients in the respective regions. Avendus Capital, Inc (US) also provides wealth management services to clients in select jurisdictions in USA.

For more information, please visit www.avendus.com