Chennai-based financial services technology company, Polaris Software Lab
Chennai-based financial services technology company, Polaris Software Lab has 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. Of the eight proposals received the company will pick up only three. 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. Polaris Retail Infotech, has set a target to increase its revenue by 50 per cent from Rs 10 crore by foraying into new countries in West Asia and Asia Pacific.