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Orlando, Fla. - (July 25, 2003)—One of the University of Central Florida Technology Incubator companies has been acquired by a giant information technology company based in India. Carol Ann Dykes, managing director of the UCF Technology Incubator, said iBackOffice, an Incubator company since 2000, has been acquired by Polaris, a publicly-traded company with annual revenues of almost $100 million.
Sanjay Patel, chief executive officer of iBackOffice, said, "Our success in launching and selling our venture is due in large part to the continued support that the UCF Technology Incubator has provided. The flexibility to scale up and down to match the needs of the marketplace over the past 18 months has been a huge benefit for us," Patel said.
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