Nasdaq-listed Virtusa Corporation, co-founded by Sri Lankan tech entrepreneurs, is discussing a potential acquisition of Chennai-based Polaris Consulting & Services (formerly Polaris Financial Technology) in a deal valued at $350 million (Rs 2310 crore), people familiar with the development said.
The Massachusetts-headquartered IT company's M&A talks with Polaris is seen as a move to strengthen its offerings and get access to new clients in banking and financial services. Polaris, being advised by Credit Suisse, could soon reach a decision on the acquirer as negotiations were fairly advanced, one of the sources added.
US based financial services technology provider Fi serv, Genpact, Tech Mahindra are among other possible suitors.
The Massachusetts-headquartered IT company's M&A talks with Polaris is seen as a move to strengthen its offerings and get access to new clients in banking and financial services. Polaris, being advised by Credit Suisse, could soon reach a decision on the acquirer as negotiations were fairly advanced, one of the sources added.
US based financial services technology provider Fi serv, Genpact, Tech Mahindra are among other possible suitors.
