News Roundup: 3i Infotech to sell US subsidiary regulus

3i Infotech To Sell US Subsidiary Regulus - Mid-cap information technology services and products company 3i Infotech is in talks to sell its US subsidiary, Regulus. The deal size was expected to be Rs 450-500 crore. In 2008, the company had acquired Regulus for around $100 million for getting access to the payment processing industry in the US. 3i Infotech had said it would pay $80 million, with an additional consideration of up to $20 million, based on an earn-out linked to certain performance parameters. (Business Standard)

Mobile Trading Firm To Raise $10M In Funding - Market Simplified Inc, a mobile trading technology service firm based in Delaware, and owned by Chennai-based INXS Technologies, is planning product and sales expansion by raising funds through private equity and strategic investors. The company is planning to raise around $10 million (Rs 45 crore) in the next few months from strategic investors or private equity firms, to launch a mobile solutions platform for financial advisors and other market expansion projects. (Business Standard)

Squadron Hires Head of Investor Relations - Fund-of-private-equity-funds (FOPEF) firm Squadron Capital has hired Chau Ly in a newly created role as director of investor relations and business development. She will be based in Hong Kong and report to Squadron Capital CEO David Pierce. Chau used to work in New York for a global private equity fund of funds named Siguler Gulf. It has also announced that Anand Ramachandran Prasanna and Pratima Divgi have both been promoted from associates to investment directors. (Asian Investor)

Nine Bidders In Race For Tadadi Port - Nine bidders, including JSW Energy-Leighton Contractors and GVK-Samsung consortia, are in the race to develop the Rs 3,000-crore Tadadi port project in Karnataka. Other bidders were GMR Infra, Mundra Port, Gammon India, Vadinar port, DSC Ltd, Navayuga Engineering and Malco Power. The multi-purpose, all-weather, greenfield port will have a capacity of 34.1 million tonne per annum. (Business Standard)

Essar's Eye Shell's African Refineries - Ruias owned Essar Group is among four consortia in race to buy Royal Dutch Shell Plc