| Polaris FT
Lab Limited, a global leader in specialty
application development in the Banking,
Financial and Insurance sectors, today announced
that it has completed the acquisition of
SEEC
Inc., a US based Product and Component
Services Company for Insurance Vertical.
This all cash deal, includes acquisition
of Intellectual Property, Business Trademarks,
Trade Brands and Infrastructure Facilities.
The combination of Polaris’
Intellect Banking Solution Suite and the
SEEC
Advantage Library of Business Component
Software will create the world’s largest
library of software components tailored
specifically to the Banking, Financial Services
and Insurance markets. A pioneer in Progressive
Modernization or Smart Legacy Modernization
for banking technologies, Polaris will now,
together with SEEC’s
market leading Application Manager Tool
suite, be able to deliver more comprehensive
and compelling solutions to its customers
for their modernization initiatives in the
Insurance Vertical also.
Commenting on the acquisition,
Supriyo Sircar, Chief Executive Officer,
Polaris Asia Pacific said, "The scope
of change taking place within the Financial
Services industry is historic and forcing
all of us to continuously improve and innovate.
This acquisition is a key example of Polaris’
commitment to continued innovation and customer
success. We are now geared to offer our
customers the largest library of SOA based
components in the world to create critical
composite applications, enhanced domain
expertise and an expanded global footprint."
Ravindra Koka, Founder and
Chief Technology Officer, SEEC
Inc., said, "We are very excited
about this merger. Polaris perfectly complements
our business and technology ecosystem. Together,
the two companies will be in a unique position
to comprehensively serve a dynamic industry.
We are now poised to enable our customers
to generate significant outcomes for their
business more economically and rapidly than
ever before. We believe, this is the edge
our customers need in these challenging
times."
Polaris FT Lab (POLS.BO)
is a recognized global leader in Specialty
Application Development for the Banking,
Financial and Insurance sector, with its
comprehensive portfolio of products, smart
legacy modernization services and consulting.
Polaris has a talent strength of over 10,000
solution architects, domain experts and
technology experts and owns the largest
set of Intellectual Properties in the form
of a comprehensive product
suite and nine
banking platforms for Retail
Banking, Corporate
Banking and Investment
Banking.
For more information, please
visit http://www.polaris.co.in
SEEC helps the world’s
leading insurance, healthcare and financial
services firms to deliver a seamless customer
experience across all products, channels
and lines of business. Within the SEEC Advantage
Library™, we have designed, built
and tested hundreds of non-proprietary,
SOA software components that can be quickly
assembled to deliver business solutions
that streamline service, accelerate sales,
and improve productivity across the enterprise.
Unlike traditional applications, SEEC solutions
leverage data and systems already in place,
liberating the business from struggling
with silo’ed applications and avoiding
the risk of rebuilding or replacing proven
assets. And because SEEC components are
designed for SOA, they can be reused across
channels and product lines, increasing agility
and lowering IT costs. With SEEC, IT organizations
gain a significant competitive advantage
– faster, more flexible solutions
at lower cost than building from scratch.
Please visit http://www.seec.com
Nikhil Menon
Contact number : +6592984869
nikhil.menon@polaris.co.in
|
