3i Infotech sees U.S. revenue rising to 50 pct in FY09

MUMBAI (Reuters) - Software services firm 3i Infotech Ltd sees revenue from the United States doubling to 50 percent in this fiscal year following the acquisition of Regulus Group LLC, a top official said on Monday.

Revenue from the U.S. market, excluding Regulus, was 25 percent last year, Chief Financial Officer Amar Chintopanth, who is also the executive director of the company, told Reuters in an interview.

Regulus was acquired in April for a total consideration of up to $100 million, to boost 3i Infotech's transaction services business.

Transaction services, which the company recently entered into, is growing into a significant revenue earner for the software firm. Last year it contributed about 12 percent to its revenues.

"In the IT business, revenues are equally split between products and services. Transaction services will form one-third of our business after Regulus," Chintopanth said.

Transaction services include documents, bill and payment processing.

The company also expects to exceed its revenue guidance this year, which was set at 17 billion rupees, Chintopanth said, though he did not disclose actual numbers.

3i Infotech is also setting up kiosks to dispense financial services through connectivity to state data centres, he said.

The revenues from the e-governance project is expected to start from the third quarter of this fiscal, he added.