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3i Infotech to acquire J.P. Morgan's NRLB sector

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CIOL Bureau
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BANGALORE, INDIA: 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).

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3i Infotech’s subsidiary, Regulus Group, is currently the largest outsourced remittance processing provider in the U.S, and this acquisition would further strengthen that position, said a press release.

Virtually all J.P. Morgan Treasury Services NRLB employees have been offered positions with Regulus.

Between its newly acquired and existing facilities, Regulus would 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.

He added that for 3i Infotech and their Regulus subsidiary, this agreement is ultimately about helping their customers achieve greater operational efficiencies and drive value within the revenue chain.

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