Wipro today said that it is looking at acquisitions.
In a clarification to the BSE, Wipro Ltd said that as a part of the company's strategy the company is constantly in discussion and consultations with various parties for acquisitions, deals etc.
Polaris Financial
Chennai-based Polaris Financial Technology is learnt to have approached the country’s third largest software services provider Wipro and L&T Infotech, the IT subsidiary of construction group L&T, according to reports.
The report added that the talks are at a very early stage.
However, Polaris in disclosure to the stock exchanges said the company's board had set up a task force with a mandate to explore various options to unlock shareholder value.
Polaris provides financial services software to banking clients such as Citibank from whom the company gets 35 per cent of its revenues.
Citi, through Orbitech Ltd, holds about 20 per cent equity stake in Polaris.
venkatesh.ganesh@thehindu.co.in