The Polaris - Orbitech Merger
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ICMR HOME | Case Studies Collection
Case Details:
Case Code : FINC030
Case Length : 13 Pages
Period : 2002 - 2004
Pub. Date : 2004
Teaching Note : Available
Organization : Polaris Software Labs, Orbitech Solutions
Industry : Software, IT, Finance
Countries : USA, India
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FINC030) click on the button below, and select the case from the list of available cases:
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Background Note
Polaris was established in January 1993 by Jain and his associates with headquarters at Chennai.
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Polaris' businesses could be broadly divided into software development, migration and re-engineering services, maintenance, product enhancement and enterprise resource planning (ERP) solutions.
In 1994, Polaris developed an end-to-end retail banking solution for Citibank India. In April 1996, the company established another development center at Noida (India) and in the same year, it also established a wholly owned subsidiary in New Jersey, USA.
In 1997, Polaris established a wholly-owned subsidiary in Singapore and the first overseas development center for Citibank in Los Angeles.
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The company also provided niche software services along with related consulting & support services in more than ten countries around the world.
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By the late 1990s, Polaris had established two subsidiaries in the UK to cover the European region, and one in Singapore to cover the Asia Pacific Region.
Polaris sold network services in the US, Gulf and Australia, from its offices in Atlanta (Georgia), Fremont (California) & New Jersey in the US, Riyadh, Bahrain, Abu Dhabi, Dubai and Sydney. In 1998, the company obtained the ISO 90015 certification.
In August 1999, Polaris floated an initial public offering (IPO)6 at a price of Rs.210 (Rs.200 premium on a face value of Rs.10), and was subsequently listed on the Bombay and National stock exchanges... |
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