Polaris Consulting and Services Ltd. (“Polaris”), an innovator in digital transformation and financial technology, has entered into a definitive Share Purchase Agreement (SPA) with Virtusa Corporation (“Virtusa”) whereby a subsidiary of Virtusa will acquire approximately 53% of the paid up share capital of Polaris from certain promoter entities led by Arun Jain and certain other shareholders, including OrbiTech Private Ltd (formerly known as Orbitech Limited).

In accordance with the terms and conditions of the SPA, Virtusa will purchase the shares at a price of approximately INR 220.73 per share, aggregating to approximately INR 1,173 crores.