Virtusa Corporation had last year bought 53 per cent stake in Polaris Consulting Services for Rs 1,173 crore to expand its presence in the banking and financial services space.
Polaris competes with Indian offshore players and is predominantly a banking and financial services-focused software services company.
However, in March this year, Virtusa Corporation announced the company's Indian subsidiary Virtusa Consulting Services acquired all the outstanding shares of Polaris Consulting and Services held by Arun Jain and certain other minority stockholders, representing 51.7 per cent stake for an aggregate purchase consideration of Rs 11,365 million.