Software services firm 3i Infotech, which has acquired two US based companies, Professional Access and J&B Software in the recent past, is now planning to take services and products offered by these companies to geographies outside the US. ?We have followed a unique model to spread risk and have not deliberately focused on the US market,? says Anirudh Prabhakaran, COO-South Asia, 3i Infotech. ?In fact, we have only 25% of our revenues coming from the US. When we do an acquisition, we see if we can take those products and services to other markets as well.?
3i Infotech acquired 51% stake in Professional Access for $12 million in November 2006. Professional Access specialises in e-commerce for BFSI and retail segments, and has around 500 employees with an offshore development centre in India. ?Professional Access has several large banking clients. We are now discussing whether we can take the services to other markets as well,? says Prabhakaran. 3i Infotech has similar plans with J&B Software as well, which it acquired in October 2007. J&B Software provides software products and services relating to remittance processing in the US to blue chip customers. ?J&B has a couple of customers in India, with a development centre in Chennai. We will now try to take these products to the larger banking fraternity in India,?he added.
3i Infotech?s exposure to the US has fallen from 25% in 2006 to 20% in 2007. The company derives around 35% of its revenues from India. Close to 70% of the Indian business is in the BFSI space, while the remaining is from the e-governance domain. Another 20% of the company?s business comes from the Middle East and Africa and Western Europe constitutes around 12%. Prabhakaran, however, says that the company will not cut down its exposure to the US in the light of the appreciation of the rupee. ?Strengthening of the rupee is not a problem for us since we spend most of dollar earned in the US to support our activities there,? he says.
The company, which has also got into the BPO space, again sees ?humongous? business coming in from Indian clients, and is therefore, 100% India focused.