3i Infotech, a global provider of IT solutions, announced that 3i Infotech (Western Europe) Group, a step down subsidiary of the company, has signed an agreement to sell 3i Infotech (Western Europe) and 3i Infotech (Flagship-UK) (hereinafter together referred to as '3i Infotech Western Europe') to Objectway Financial Software, which is a provider of wealth management and digital software solutions in EMEA.

This sale is in line with the group's strategy to sell its non-core assets / investments and use the additional cash generated from such sale to deleverage its balance sheet and for business purpose. 3i Infotech Western Europe provides investment management software solutions to midmarket UK firms.

Shares of the company gained Rs 0.68, or 8.87%, to trade at  Rs 8.35.  The total volume of shares traded  was  1,028,783 at the BSE (11.59 a.m., Wednesday).