M&A Deal Summary

3i Infotech Acquires Rhyme Systems

On October 1, 2006, 3i Infotech acquired software company Rhyme Systems from Primary Capital for 28M GBP

Acquisition Highlights
  • This is 3i Infotech’s 1st transaction in the Software sector.
  • This is 3i Infotech’s 0th largest (disclosed) transaction.
  • This is 3i Infotech’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2006-10-01
Target Rhyme Systems
Sector Software
Buyer(s) 3i Infotech
Sellers(s) Primary Capital
Deal Type Add-on Acquisition
Deal Value 28M GBP

Target

Rhyme Systems

London, United Kingdom
Rhyme Systems Ltd. is a UK asset management backoffice operations software company, providing investment management and post trade clearing and settlement systems.

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Buyer(S) 1

Buyer

3i Infotech

Navi Mumbai, India
Category Company
Founded 1993
Sector Information Technology
Employees4,000
Revenue 8.1B INR (2024)
DESCRIPTION

3i Infotech is a global Information Technology company committed to empowering business transformation. With a comprehensive set of IP-based software solutions and a wide range of IT services, the company has successfully streamlined the business operations of customers globally. The Company has a strong foothold and customer base in geographies like South Asia, the Middle East and Africa, Asia Pacific, the Kingdom of Saudi Arabia, and North America. 3i Infotech was founded in 1993 and is based in Navi Mumbai, India.

DEAL STATS #
Overall 1 of 2
Sector (Software) 1 of 2
Type (Add-on Acquisition) 1 of 2
Country (United Kingdom) 1 of 1
Year (2006) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-15 J&B Software

Blue Bell, Pennsylvania, United States

J&B Software is a developer and systems integrator of software solutions for the payment processing industry.

Buy $25M

Seller(S) 1

SELLER

Primary Capital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 700M GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Primary Capital is a private equity firm focused on management buyouts and buy-ins of mid-market companies with an enterprise value of £20 - £100 million. Primary looks for opportunities across Europe but concentrates primarily on businesses located in the UK and Germany. The Firm looks to invest £10 to £44 million of equity or equity-related capital per transaction. Target sectors include consumer products/services, business & support services, financial services, IT services, software, and industrial products/services. Primary was formed in 1994 and is based in London.

DEAL STATS #
Overall 6 of 24
Sector (Software) 1 of 2
Type (Add-on Acquisition) 5 of 16
Country (United Kingdom) 4 of 22
Year (2006) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-01 Tobar Group Trading

Beccles, United Kingdom

Tobar Group Trading Ltd. is a multi channel, multi brand retailer with retail stores, wholesale, mail order, and online channels. Incorporating several well-loved brands including Hawkin’s Bazaar and Letterbox.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-01 Elisabeth the Chef

Leamington Spa, United Kingdom

Elisabeth the Chef Ltd. is a high quality manufacturer and supplier of chilled pastries and cakes, bakery components and dessert products to the UK multiple retail and food services sector.

Sell -
Mergr

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