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3i Infotech Acquires SDG Software Technologies|
- By CXOtoday Staff, Nov 25, 2005 1252 hrs IST
- Tags : 3i Infotech, SDG, BFSI
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3i Infotech, the global provider of IT solutions and services, today announced the acquisition of SDG Software Technologies, a Hyderabad based software products company.
SDG Software Technologies, said to post annual revenues of approximately Rs100 million, offers an array of products for the banking industry and capital markets with a focus on surveillance and fraud management.
These include BankAlert - an anti-money laundering (AML) software application that detects fraud and money laundering instances; and AWACSTM - an advance warning and control system designed to protect the integrity of the capital market from fraud, manipulation and abusive practices.
Commenting on the acquisition V. Srinivasan, MD and CEO, 3i Infotech, said, "The scope of BFSI has widened, incorporating not just banking but other areas like capital markets that are likely to exhibit good growth. With the addition of SDG's solutions for the capital market, our offerings in the BFSI space will increase."
Suheim Sheikh, Chairman and MD of SDG Software Technologies said, "The synergies arising out of this acquisition will give us a global reach which in turn would accelerate sales growth of our products and offerings."
SDG also offers other products and solutions catering to the capital markets. It has 125 employees and has customers in Philippines, Singapore, Middle East, India and U.K.
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Discussion Board
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by Sujeet Singh on Aug 29, 2006 10:49 AMWell I don't agree to the comments that the focus of 3i-infotech is diluted. Accepting the fact that the company has a novice entry however the company is fundamentally as well as strategically correct. Its just one more quick value addition to the competecy of the organisation,what business jargons certify as " inorganic growth with strategic intent" which is certainly going to enhance the product features to serve the domain in a much better way.
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by N Murthy on Dec 06, 2005 04:14 PMVery good synergy.This will have a direct impact on the growth of 3i Infotech which is already a well established player in the IT service space. 3i has played its cards right so far and one can expect ots market share to expand, not to mention also a growth in the stock price as its currently highly undervalued.
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by moonraker on Nov 25, 2005 08:27 PMI feel that this aquisition of a product company by a services focussed company like 3i infotech will kill the product company. Also it is clear that 3i infotech has taken over sdg for its capital markets products and not banking products. this would mean a slow end of the aml product for the company. knowing 3i as a bad project management company, it could only mean doomsday for poor sdg
** Message edited by moderator **
