Wednesday, April 29, 2009

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3i Infotech buys J.P. Morgan’s NRL biz

IT solutions provider 3i Infotech announced it has entered into an agreement to acquire J.P. Morgan Treasury Services’ national retail lockbox business. 3i Infotech’s subsidiary, Regulus Group, is currently the largest outsourced remittance processing provider in the U.S, and this acquisition will further strengthen the unit.

All J.P. Morgan Treasury Services NRLB employees have been offered positions with Regulus. Between its newly acquired and existing facilities, Regulus will process more than 700 million payments annually once the acquisition is complete, the firm stated in a release. "We’re excited about partnering with J.P. Morgan Treasury Services on a deal that enables both firms to align their respective core business processes," CEO and president of 3i Infotech North America Kathy Hamburger said.


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