Polaris Consulting & Services has received clearance for stake sale deal from the Competition Commission of India (CCI). The US-based technology outsourcing company Virtusa Consulting Corp is planning to buy 53% stake in the Indian information technology firm.
According to the terms of the deal announced in November, the US company will buy Polaris Consulting’s IT business for Rs 1,170 crore. The firm will purchase the shares for about Rs 220.73 apiece.
Polaris Consulting is a full-spectrum Financial Technology major, using technology as an enabler to drive unprecedented operational productivity in Retail, Corporate and Investment Banking.
