Several Indian IT services companies in race to acquire services unit of Polaris

17th May 2013 | By Mouseworld Now Correspondent |

New Delhi, India, May 17, 2013: Some Indian IT services companies, including Infosys, Mahindra Satyam, HCL Technologies and L&T, have bid for software firm Polaris Financial Technologies.

Early this month, Polaris business split into two divisions, services and products, with a separate CEO for the services business and individual CEOs for different product lines. Polaris, which is ranked as the eleventh-largest Indian software exporter and only focuse on the financial services industry. Its services business earned $330 million (Rs 1,813 crore) in 2012-13.

In 2012-13, Polaris gained a net profit of 201 crore on revenues of 2,308 crore. Now a days Polaris has a market value of 967 crore. 


© Mouseworld Now News Service

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