Indiana firm plans to acquire South Side software company

[dhilipkumar]

South Side software company SEEC Inc. will soon be acquired by a top Indian software company in an all-cash deal.

Chennai, India-based Polaris Software Lab Ltd., announced Sept. 30 plans to acquire SEEC.

Neither company disclosed financial terms of the definitive agreement, which requires the approval of SEEC's shareholders. The acquisition is expected to close in the next 20 to 30 days, SEEC founder and Chief Technology Officer Ravindra Koka said.

According to the company's Web site, SEEC is majority-owned by Sewickley-based Meakem Becker Venture Capital and Silicon Valley firm Kleiner Perkins Caufield & Byers.