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Polaris to buy remaining 49% in Indigo Tx

25 Nov 2011 Evaluate

Chennai-based software major Polaris has announced plans to completely acquire Indigo Tx Software Private Limited, a software as a service (SaaS) player. The company, in March 2010, had acquired 51 per cent equity shares of Chennai-based IndigoTx Software. Polaris Software Lab has signed an agreement to acquire the balance 49 per cent equity shares of Indigo Tx from its shareholders subject to completion of legal formalities, it informed the exchanges. It did not reveal the terms of transaction for acquisition of the rest of the 49 per cent shares. Meanwhile, the company has changed its name to Polaris Financial Technology Ltd to reflect the growth it has made in the financial technology software segment over the years. The company has grown and built up complex portfolio of products and services in financial technology.

Peers
Company Name CMP
TCS 2581.65
Infosys 1318.60
HCL Tech. 1442.50
Wipro 204.35
Tech Mahindra 1511.85
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