Virtusa Acquires Majority Interest in Polaris Consulting & Services, Ltd.

6 Nov

  • ” Virtusa and Polaris would together create a leading global provider of end-to-end IT services and solutions to banking and financial services (“BFS”) industry segment.
  • Virtusa and Polaris collectively will have approximately 18,000 (1) employees, generating $826 million of pro forma revenue(2) for the twelve months ended September 30, 2015.
  • On a non-GAAP basis, transaction is estimated to be ($0.08) dilutive to fiscal fourth quarter 2016 EPS, slightly dilutive to fiscal year 2017 EPS, and accretive thereafter. “

For more :

I joined Polaris Consulting & Services Ltd in Jan 2015 after a long engagement. Virtusa Corporation ( NASDAQ GS: VRTU) acquired majority interest  in Polaris and the annoucement was made yesterday. I am very happy for both the companies.

Generally my posts are self reflexive and of my humble journey. I share this news in the same context. I remember before starting my work journey. I had taken advise from two people whose opinion was important to me. My father and my school mate Samir who was then studying in MIT. I was clueless after a failure in public examination. I wanted to try something of my own. My father told me ” to do something longterm and lasting.”  I had written to my freind who guided me ” to gain valuable experience before taking a entreprenuerial plunge.” I was restless and dived in. I remember them today. What have I achieved? I had a very hard and interesting journey. I console myself that did some great assignments. Amazon,  RM and  Scottish goverment. I met my friends. This journey has led me to Polaris – Virtusa.  I hope Polaris – Virtusa works out for me.

This for today. Goodnight friends!

Love, Suresh

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