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Virtusa to buy majority stake in Polaris for Rs.1,173 crore

Published

9 years ago

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Chennai: US based Virtusa Corporation has decided to buy around 53 percent of shares of city based software services company Polaris Consulting and Services Ltd for Rs.1,173 crore, the Indian company said.

Virtusa will make an unconditional mandatory offer to the public shareholders of Polaris to purchase up to an additional 26 percent of its outstanding shares.

In a statement issued here, Polaris Consulting said it has entered into a definitive share purchase agreement (SPA) with Virtusa Corporation whereby a subsidiary of Virtusa will acquire approximately 53 percent of the paid up share capital of Polaris.

The American company will buy the shares from certain promoter entities led by Polaris chairman Arun Jain and certain other shareholders, including OrbiTech Private Ltd (formerly known as Orbitech Ltd).

As per the agreement, Virtusa will purchase the shares at a price of around Rs.220.73 per share.

“I wish all Polaris associates who contributed to building Polaris into a world class company in the BFSI (banking, financial services and insurance) space, continued success in their journey under the larger canvas of Virtusa and Polaris.

“This will also enable me to establish and pursue innovative models for social impact using Design Thinking in the areas of health and education, in addition to my focus on steering Intellect Design Arena Limited into a global digital products powerhouse,” Jain was quoted as saying in the statement.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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