Polaris Software buys into Sidoun GmbH
By Venkatachari Jagannathan | 05 Mar 2001
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The Chennai-based Rs.146-crore turnover software major, Polaris Software Lab Ltd., has acquired a 20 per cent stake in Sidoun GmbH – a German software company – for DM 2.3 million ($1.1 million).
According to Mr. Arun Jain, chairman and managing director of Polaris Software, the investment gets Polaris the global rights to sell the German company's component warehousing technology framework in the retail industry field.
In addition, the Indian company can integrate the component warehousing technology framework with its existing banking products like `BankWare', thereby gaining an edge over competitors. "We will also be paying a royalty ranging between 5 and 10 per cent to the German company," added Mr. Jain.
The other benefit that would accrue to Polaris Software is an entry into the German market with the help of Sidoun, which has at least six offices in Germany.
Detailing the component warehouse technology framework, Mr. Jain said the technology has several unique features like multi-lingual support and multiple currency formats. The multi-lingual support comes in handy when American banks and financial institutions start operations in non-English speaking countries like Japan, China, etc.
Similarly, countries like Indonesia, Turkey and Germany need specific and unique currency formats. The component warehousing technology framework offers the flexibility to tailor the solution without really changing the source code, within and outside the various formats.
In addition, the framework enables integration of various databases by creating a common front-end system. "The component warehouse framework seamlessly integrates multiple database systems like Oracle, SQL Server, Sybase and DB2," he added.
Polaris Software will be bundling this framework with its existing banking software product, 'BankWare'. The company will focus on American corporations expanding to Asia and Europe. According to Mr. Jain, the market potential for this product is around Rs.100 crore over a five-year period.
Meanwhile, on the infrastructure development front, Polaris Software is adding another 2 lakh square feet facility at Chennai at an outlay of Rs.33 crore. Named `Track I', the facility is expected to be operational by June 2001.
This apart, the company is building a state-of-art 90,000 square feet software development campus at New Delhi named `Track II' at an outlay of Rs. 20 crore, expected to be ready by September this year.
According to Mr. Arun Jain, chairman and managing director of Polaris Software, the investment gets Polaris the global rights to sell the German company's component warehousing technology framework in the retail industry field.
In addition, the Indian company can integrate the component warehousing technology framework with its existing banking products like `BankWare', thereby gaining an edge over competitors. "We will also be paying a royalty ranging between 5 and 10 per cent to the German company," added Mr. Jain.
The other benefit that would accrue to Polaris Software is an entry into the German market with the help of Sidoun, which has at least six offices in Germany.
Detailing the component warehouse technology framework, Mr. Jain said the technology has several unique features like multi-lingual support and multiple currency formats. The multi-lingual support comes in handy when American banks and financial institutions start operations in non-English speaking countries like Japan, China, etc.
Similarly, countries like Indonesia, Turkey and Germany need specific and unique currency formats. The component warehousing technology framework offers the flexibility to tailor the solution without really changing the source code, within and outside the various formats.
In addition, the framework enables integration of various databases by creating a common front-end system. "The component warehouse framework seamlessly integrates multiple database systems like Oracle, SQL Server, Sybase and DB2," he added.
Polaris Software will be bundling this framework with its existing banking software product, 'BankWare'. The company will focus on American corporations expanding to Asia and Europe. According to Mr. Jain, the market potential for this product is around Rs.100 crore over a five-year period.
Meanwhile, on the infrastructure development front, Polaris Software is adding another 2 lakh square feet facility at Chennai at an outlay of Rs.33 crore. Named `Track I', the facility is expected to be operational by June 2001.
This apart, the company is building a state-of-art 90,000 square feet software development campus at New Delhi named `Track II' at an outlay of Rs. 20 crore, expected to be ready by September this year.
