On Friday, Polaris Software said that it has acquired IndigoTX. The money involved in the deal was not disclosed.

While Polaris is into the business of providing financial technology, IndigoTX is a provider of software as a service. The company sells GO TX, a brand name given to a brokerage solution which is used in the securities market. It uses pay per model as the pricing strategy.

As per the information given by Polaris, the acquisition will be completed in two phases. In the first phase, Polaris will buy out 51 per cent stake in IndigoTX. The rest stake would be bought over in a stipulated time-frame.

Polaris is going ahead with this deal so that it is able to enter into the segment where solutions for the capital markets are developed.

Chandra Balaraman, Founder & CEO of IndigoTX said that the characteristics of IndigoTx's solutions are same as that of an ERP, which is made for the manufacturing sector. He further said that the company needed an experienced and strong partner, who could fuel their growth. And Polaris is just that.

Now, the company is looking to get strong hold on the global market as well.