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Rank 37: OrbiTech: Merging All The Way

author-image
DQI Bureau
New Update

Ram Bhagwat
Managing Director
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.

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