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Polaris Software acquires IndigoTX

BS Reporter  |  Chennai 

Lab today announced the acquisition of IndigoTX, a Chennai-based (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, Lab Ltd, a Chennai-based financial 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.

First Published: Sat, March 27 2010. 00:32 IST