Polaris Acquisition Corp. SPAC (NYSE Alternext: TKP) has announced that March 5, 2009 will be the vote date for its $704 million acquisition of Atlanta-based HUGHES Telematics (a privately-owned automotive telematics services company that currently provides and is developing a suite of real-time automotive services and applications). Hughes Telematics is majority-owned by Apollo management, a private equity firm.

Polaris, which raised $150 million on January 17, 2008 and trades on the NYSE Alternext, is helmed by Marc V. Byron, CEO, Lowell D. Kraff, President, David F. Palmer, VP, and Jerry Stone, VP are all employees of Trivergance, a middle market investment bank which invested $4,500,000 in the SPAC.

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