Polaris Software acquires IndigoTX

Polaris Software Lab today announced the acquisition of IndigoTX, a Chennai-based Software as a Service (SaaS) company providing an enterprise brokerage platform used by half a million customers. The company refused to disclose the acquisition cost.

Commenting on the acquisition, R Srikanth, executive vice-president and chief financial officer, Polaris Software Lab Ltd, a Chennai-based financial technology company, told Business Standard that “this is strategic and product acquisition”.

While refusing to comment on the acquisition cost, he said the company would be a subsidiary for Polaris. “We expect that in the next three years, the new company will bring a profit of around Rs 30 crore,” said Srinivasan.