Polaris FT signs definitive agreement for business purchase of Pyxis

Chennai, India - 17 October 2012

Polaris Financial Technology Ltd (POLS.BO), a leading global Financial Technology company, today announced that it has entered into a business purchase agreement with Pyxis, to strengthen its consulting capabilities in the Global Markets space. Established in 2005, Pyxis is a highly-specialized player in technologies for Global Markets Front Office and Market Risk, related to cash and derivatives instruments.

Pyxis bridges the gap between business and technology by using its core strength in the derivatives domain. It offers services covering foreign exchange, interest rate, credit and equity asset classes to its global financial clients.

Polaris is a full-spectrum Financial Technology major, using technology as an enabler to drive unprecedented operational productivity in Retail, Corporate and Investment Banking. Polaris services over 200 banks across the world, including 9 of the top 10 banks, with a comprehensive suite of products, services and consulting offerings. Pyxis is expected to strengthen Polaris' consulting and solutioning capabilities in the area of Global Markets.

Speaking on the occasion, Kedarnath Udiyavar, Head of Polaris FT Consulting business, said, “We are happy to have an outstanding team of domain specialists from Pyxis joining us. Pyxis is a specialized player in the Global Markets front office arena and this agreement would reinforce our expertise in the consulting business.”

Nandlal Bhatkar, Founder & CEO, Pyxis, who will be joining the Polaris FT Consulting team, echoed the synergies and said that joining Polaris will provide the team access to many more global opportunities.

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