Polaris Software to buy Laser Soft for Rs52 cr

Polaris Software to buy Laser Soft for Rs52 cr

Mumbai: IT firm Polaris Software Lab on Thursday said it will acquire software product company, Laser Soft, for Rs52 crore.

The company has signed a definitive agreement with Chennai based-Laser Soft and its principal shareholders to acquire its 100% equity shares, Polaris Software said in a filing to the Bombay Stock Exchange (BSE).

“The value of the deal is about Rs52 crore all in cash, linked to performance," it further said.

The deal is subject to the regulatory approvals, Polaris said.

Laser Soft is a software product company offering an entire range of banking operations, which includes core banking and specialized products like treasury, trade finance and cash management.

Shares of Polaris Software Lab were trading at Rs149.20 on the BSE, up 0.74% from its previous close.