Rank 37: OrbiTech: Merging All The Way

Performance Highlights Merged COSL and GSU to form Orbitech Merger with Polaris Software Lab Startup: 1985 l Products & services: Software Development & Banking, Financial Software l Employees: 1255 l Branches: 4 l Address: Ridge Business Centre, Mahindra Towers, 1st Floor, ‘B’ Wing, Worli, Mumbai-400018 l Tel: 4941401/4628383 l Fax: 4941507 l Website: orbitech.co.in

OrbiTech Solutions was formed by the consolidation of two entities
Citicorp Overseas Software Ltd (COSL), a 100% Citicorp unit, and GSU (Global
Support Undertaking), the technology department of CitiBank India. What resulted
was a company with 1,255 specialists in BFSI and revenues of Rs 330 crore, with
the new name OrbiTech Solutions. In that sense, the revenues of COSL (Rs 129
crore) and OrbiTech (Rs 330 crore) are not directly comparable. OrbiTech’s
mandate is to gain leadership in IT services and products for the BFSI segment.
Its products suite, called OrbiPack, comprises point products dealing with the
entire spectrum of banking applications. In all, 80% of revenues came in from
solutions implemented outside India. Nearly 53% came in from software
development and maintenance, followed by integration projects (34%). At the end
of the year, Polaris Software Lab and OrbiTech merged to form a single entity.