OrbiTech merger with Polaris this yearend
By Venkatachari Jagannathan | 10 Jul 2002
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Chennai: The merger process of OrbiTech Solutions with Polaris Software Lab may be over by 2002-end. Both the companies are in the process of drafting the shareholder contracts and other agreements.
In May 2002 both the companies had signed a memorandum of understanding whereby OrbiTech Solutions is to merge itself with Polaris (See: 'Knight overnight').
In May 2002 both the companies had signed a memorandum of understanding whereby OrbiTech Solutions is to merge itself with Polaris (See: 'Knight overnight'). “We hope to conclude the shareholder contracts this month or by the first week of August 2002. After that we will approach the shareholders and the concerned high courts to approve the merger deal,“ says Polaris chairman and managing director Arun Jain.
While the formal process is on, both the companies are actively working to integrate the human resources. A lot of internal communication is being generated and sent out to the employees of both the companies. Jain says the marketing pitch is jointly made, and nearly 20 contracts have been bagged.
Polaris is also on the lookout for a couple of business processes outsourcing units. The company is in talks with three units, but Jain declines to divulge more details on the subject.
