Polaris chooses Chile as platform for Latin America
Published: May 28, 2009
TI India will make Santiago its regional headquarters and plans an investment of US$ 7 million.
Indian multinational, Polaris Software Lab, specialist in Information Technology (IT) for the financial sector, announced the opening of a new Latin American development centre in Santiago.
Polaris has identified Latin America as an integral growth market for its expansion strategy. With a planned investment of US$7 million, the Chile Regional Innovation and Development Centre would serve as the hub for Polaris' Latin American operations.
The company already has centres in India, China, Mombai, Belfast, Sydney, and Toronto.
"We are going to recruit local talent to understand the market. On this basis, we will implement our products and insert ourselves into the local system," explained Kartik Kaushik, CEO for America.
In Kauskik's opinion, the arrival of Polaris is a great opportunity for Chile because the company will pass on its knowledge of IT processes to the local model. "Thanks to the experience which Polaris will bring, the entire Chilean IT market will be more competitive and global. In addition, we will contribute with innovation because we deliver unique technology," said the CEO for America.
Cristián Basauri, executive director for Latin America, added that, "the idea of exporting from Chile to the rest of the region is incorporated into the growth plan."
The financial and retail sectors are Polaris' main clients. Until now, they have only confirmed that they are doing business with Presto. Nevertheless, CEO, Rahul Petkar, assures that they are in negotiations with other companies in the sectors.
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