Chennai-based insurance specialist Polaris Software Lab is to acquire SEEC, a US-based product and component services company. The terms of the agreement include intellectual property, busines trademarks, trade brands and infrastructure facilities.

Arun Jain, chairman and CEO of Polaris, said that the deal is a vital portion of its growth strategy in the insurance space. Through its Advantage Library solution, the company enables insurance firms to deliver customer experience across all products, channels and lines of business.

SEEC designs, builds and tests non-proprietary SOA software components to streamline service, accelerate sales, and improve productivity, and has a dozen global insurance companies as its customers.  X