3i Infotech Ltd has announced that the Company has signed an agreement to acquire 100%
shares of Regulus Group LLC (Regulus); Regulus is the largest independent remittance provider and one of the leading providers of document (bills) processing services in the U.S. ? addressing the full document lifecycle from print and electronic bill presentment to remittance.

In this regards the Company has issued the following Press Release :

“3i Infotech, on April 29, 2008, has announced that it has signed an agreement to acquire Regulus Group LLC (Regulus). Regulus is the largest independent remittance provider and one of the leading providers of document (bills) processing services in the U.S. - addressing the full document lifecycle from print and electronic bill presentment to remittance. Under the terms of agreement, the Company has proposed to acquire 100% of Regulus, including the Company’s products, trademarks and product brands.

Regulus was founded in 1995 as a provider of remittance processing solutions. on April 29, 2008 Regulus is the largest independent bill presentment and remittance processing Company, handling more than 2.1 billion paper and electronic transactions annually. The Company is headquartered in Napa, California and operates a nationwide network of ten processing centers in California, Georgia, Illinois, New Jersey, North Carolina, Iowa and Texas. Regulus has approximately 1,300 employees. The Company processes one in every fifty check payments in the U.S. and produces an estimated one of every 25 consumer statements generated in the U.S.

Regulus’ blue-chip client base includes one of every three Fortune 50 companies. Regulus has clients in the insurance, finance, telecom, utilities and healthcare sector. The Company serves approximately 150 clients through its direct sales force and approximately 85 additional clients generated through reseller partnerships. The acquisition will provide 3i Infotech significant cross-selling opportunities.

Regulus reported revenue of approximately USD 148 million for the 12 months ended December 2007. The cost of the acquisition to 3i Infotech is approximately USD 80 million with additional consideration of up to USD 20 million based on an earn-out linked to certain performance parameters.

Upon closing, Mr. Richard Long, the current CEO will step down and Ms. Kathleen Hamburger, current President and Chief Operating Officer, will assume the role of CEO. Ms. Hamburger was recently awarded Output Links Women of Distinction Honor. OutputLinks is the primary global research and information resource of the high volume transaction output (HVTO) industry and recognizes Contributions to the HVTO Industry.

Commenting on the acquisition Mr. V Srinivasan, Managing Director and CEO, 3i Infotech said “The acquisition of Regutits Group is a strategic one and will enable 3i Infotech to strengthen its positioning in the payment processing industry.”

Regulus was advised by the investment banking firm Lana, Berry & Co., Boston, USA.”