Polaris Software will take over city-based Laser Soft, it is learnt. The board of the company, which met here on Thursday morning, is reported to have approved the acquisition. The deal size is estimated to be around Rs. 52 crore. The details of the deal, however, are still awaited.
Laser Soft is a software product company established in 1986 by Suresh B Kamath, an M.Tech in Computer Science from IIT, Chennai. The company is focussed on development of products for the banking and financial service sector.
The product offerings cover the entire range of banking operations and include core banking and quite a few specialized products like treasury, trade finance, cash management, recon systems etc. Laser Soft has registered office in Chennai and has 500 personnel on its rolls.
It has 4 development centers located at Chennai, Bangalore, Hyderabad and Mangalore. The research & development facility at Chennai is the focal point for developing and testing new products. There is also a well-equipped training centre in Chennai that imparts technical training and soft skills to its employees and user-training programs to its customers, according to informations provided by the company's website.
Founded in 1993 and publicly-listed, Polaris Software is the world's most sophisticated banking and insurance software company. Polaris is the chosen outsourcing partner for 10 of the top 15 global banks and 6 of the 10 top global insurance companies. Polaris offers state-of-the-art, comprehensive solutions for core banking, corporate banking, wealth & asset management and insurance. Over the last two decades, Polaris has implemented its solutions and services among 200 of the world's largest financial institutions, says the website of Polaris.