Polaris Software has acquired US based Product and Component Services Company SEEC. This would be an all cash deal. Arun Jain, Chairman & CEO of Polaris Software Lab Ltd. said that SEEC is an innovative company and well respected in the global marketplace, and with the deal his firm will carve growth strategy in the Insurance space.

 

According to Jain, with access to thought leadership, Intellectual property and ACORD compliant business components, his firm would be able to garner benefits. Similarly, Ravindra Koka, Founder and Chief Technology Officer of SEEC Inc. said that the insurance market is poised for higher growth in the areas of Claims, Sales and Product Management & Customer Service.

 

Adding to his thought, Koka said that they were looking for complementing Financial Services & Insurance focused technology firm that understands the emerging Component business model and help SEEC with investments and enable its growth. According to Koka, the merger with Polaris is very synergistic and useful in critical business transformation.