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Polaris India's IT Services Division Is Up For Grabs, For $400 Million

Question asked by Kaustubh Katdare in #Coffee Room on May 15, 2013
Kaustubh Katdare
Kaustubh Katdare · May 15, 2013
Rank A1 - PRO
Polaris India recently announced division of its business into two entities: servies & products, each one gettings its own chief executive officer. The company saw flat growth in the last few months . Polaris Financial Technologies has been ranked as the 11th largest Indian software exporter and caters exclusively to the finance sector. The company earned $330 million in the last financial year.

The top bidders interested in Polaris IT services division include Wipro, HCL Tech, Mahindra Satyam, Infosys and L&T. The bidders have offered significantly lower amount than what Polaris has been expecting - about $400 million, reports ET. Posted in: #Coffee Room

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