3i Infotech Acquires J&B Software Inc

3i Infotech has bought US-based J&B Software Inc and its subsidiaries for $25.25 million (Rs 100 crore). The acquisition will assist the company in its bid to penetrate the blue chip BFSI (Banking, Financial, Services and Insurance) customer base in the US and enable taking J&B''s payment processing solutions to global markets. The $25-million J&B Software is engaged in the business of providing software products and services relating to remittance processing in the US and has several blue chip customers.The acquisition of J&B Software is EPS accretive and will also provide 3i with significant cross-selling opportunities.