3i Infotech acquires SDG Software Tech

BANGALORE: 3i Infotech, a provider of IT solutions and services, has acquired SDG Software Technologies, a Hyderabad-based software products company.

Announcing the acquisition, 3i Infotech said that SDG is a profitable company with annual revenues of approximately Rs 100 million. The company has a comprehensive array of products for the banking industry and capital markets with a focus on surveillance and fraud management.

Commenting on the acquisition V. Srinivasan, managing director and CEO, 3i Infotech, said, "We believe BankAlert, the AML product will fill a gap in our banking product space which in turn will help us further penetrate the banking industry. 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 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. The entire SDG team is looking forward to this expansion as it would provide all of us with an opportunity to see our products being installed across the world."