Chennai-based financial services technology company, Polaris Software Lab, on Thursday said that the company had received eight proposals for its proposed acquisition plan from Europe and within India. Meanwhile, as part of its expansion plan, the company is setting up development centres Egypt, Chille and Vietnam with an investment of $5 million during this year.
After addressing the shareholders at the company’s annual general meeting in Chennai today, Arun Jain, founder and chairman of Polaris Software Lab, told Business Standard that the company was looking at acquisition opportunities as part of its expansion plan. “So far, we had received eight proposals from Europe and within India. We will pick up three of the eight,” he added.
It may be noted that the company recently acquired US-based SEEC, an insurance technology company. The acquisition brought companies like Allstate, Prudential and New York Life Insurance to Polaris’ basket.
Saturday, July 18, 2009
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