3i Infotech buys 51% in FinEng Solutions

12 Jun 2008, 0000 hrs IST, PTI, The Economic Times 

MUMBAI: IT solutions provider 3i Infotech on Wednesday said it had acquired a 51% stake in FinEng Solutions with an option to acquire the remaining stake later.

The company has acquired a majority stake of 51% in Mumbai-based FinEng Solutions with a commitment to acquire the remaining stake in two tranches over a period, 3i Infotech said in a filing to the Bombay Stock Exchange. However, financial details of the transaction were not disclosed.

FinEng Solutions is a software services company providing software solutions to clients in the financial sector like commercial and investment banks, mutual funds, insurance companies, software product companies and financial institutions. Shares of 3i Infotech closed at Rs 111.20, up 2.54% on the BSE
 

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