Polaris Software clarifies on news item regarding acquisitions

With reference to the news item appearing in leading financial daily titled "Polaris looking for acquisitions", Polaris Software Lab Ltd has clarified that the news item clearly states that it is originated from market speculations. The Company has not sent out any official communication to press or analysis or any specific acquisition plan.

The respective news item also states that it is the "brokers" who feel that with an improvement in cash flows, the company should be keen to invest a part of it in an overseas acquisition.

Whenever the media or analysts have asked the Company acquisitions related questions, the Company has answered taking a stand that "like any other mid sized IT company, we are open to acquisitions. However, as of now, the Company does not have any major dialogue going on. We are as of now, going organically".

Source : Equity Bulls

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