3i Infotech subsidiary to sell US-based payments unit; stock up

MUMBAI: 3i Infotech Financial Software, a step-down subsidiary of 3i Infotech, has entered into an agreement to sell its US-based global billing and payments unit consisting of Regulus Group and J&B Software to an affiliate of Cerberus Capital Management.

The stock was trading at Rs 50.40, up 0.80 per cent on the BSE. It touched a high of Rs 52.70 and low of Rs 48.95 in trade so far.