Mumbai, India / Naperville, IL (PRWEB) April 27, 2009 -
3i Infotech, a global provider of IT solutions, today announced that it has entered into an agreement to acquire J.P. Morgan Treasury Services' national retail lockbox business (NRLB). 3i Infotech's subsidiary, Regulus Group, is currently the largest outsourced remittance processing provider in the U.S, and this acquisition will further strengthen that position.
Virtually all J.P. Morgan Treasury Services NRLB employees have been offered positions with Regulus.
Between its newly acquired and existing facilities, Regulus will process more than 700 million payments annually once the acquisition is complete.
"We're excited about partnering with J.P. Morgan Treasury Services on a deal that enables both organizations to align their respective core business processes," said Kathy Hamburger, CEO and president of 3i Infotech North America. "For 3i Infotech and our Regulus subsidiary, this agreement is ultimately about helping our customers achieve greater operational efficiencies and drive value within the revenue chain."
About Regulus Group
Regulus Group is the premier provider of outsourced billing and payment services designed to accelerate cash, improve corporate productivity and reduce overall management costs. Our integrated approach to the payment lifecycle enables Regulus customers to outsource and automate their most resource-consuming billing and payment requirements while actually increasing control over the entire process. As the largest bill presentment and payment processors in the United States, Regulus services over two billion paper and electronic transactions every year for companies in the telecom, insurance, finance, utility, and healthcare industries. Regulus is a subsidiary of 3i Infotech. For more information, visit http://www.regulusgroup.com.
About 3i Infotech
3i Infotech is one of India's leading IT companies and among the top 4 Indian Software Products Companies.* The Company provides software products and IT services (Managed IT Services, Application Software Development & Maintenance, Payment Services, Business Intelligence, Document Imaging & Digitization, Operations Outsourcing (BPO) and IT Consulting) for the Insurance, Banking, Capital Markets, Mutual Funds, Wealth Management and Government verticals. The Company services customers in over 50 countries across 5 continents.
3i Infotech is SEI CMMI Level 5 compliant for Software Services, ISO 9001:2000 certified for BPO Services and ISO 27001:2005 certified for Infrastructure Services.
Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", "expect", "believe", and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of our principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. 3i Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.