ICICI Infotech rebrands as 3i Infotech

NEW DELHI: ICICI Infotech Ltd has announced that the company has been renamed "3i Infotech Ltd". The shareholders at an EGM held in Mumbai on January 18, 2005 approved the new name. The shareholders also approved an increase in capital of the company by way of an IPO.





ICICI Infotech has transformed itself from being the back-office of ICICI Bank into a global technology company providing technology solutions in more than 30 countries across four continents. From being a pure IT services player, it has emerged as an IT solutions provider having a range of products and services for banking, insurance and other verticals. Because of this transformation, the revenues from ICICI Bank today constitute less than 30 percent of the overall business of ICICI Infotech for the nine-month period ended December 31, 2004. To reflect the above metamorphosis, ICICI Infotech has decided to rebrand itself as 3i Infotech; the three I's standing for Innovation, Insight and Integrity.





Commenting on the change of name, 3i Infotech MD and CEO V Srinivasan said, "In adopting the new name, 3i Infotech, we re-dedicate ourselves to Innovation, Insight and Integrity; values that have always guided us in our strong association with customers and business partners."





The company has also inducted Vincent Addonisio as a director in the company. An MBA from Georgia Tech University and a certified public accountant who has been associated with the IT industry in USA for over a decade, Addonisio has also handled several M&A transactions.