Tata Consultancy Services (TCS) is all set to notch yet another acquisition. According to the latest update, TCS is now mulling to acquire French IT services company Alti SA for 75 million euros (about Rs 533 crore). If reports are to be believed, the latest deal would be an all-cash transaction.
Alti SA is a privately-held company with strong expertise in IT services including enterprise solutions, assurance and CRM solutions. Presently, the company has 1,200 employees based in France, Belgium and Switzerland.
N Chandrasekaran, CEO and Managing Director, TCS, said, "This acquisition underlines our long-term, strategic commitment to France, which is the third-largest IT services market in Europe. The acquisition of Alti SA will help us serve our clients in France and across Europe more comprehensively with an expanded set of services and solutions, bringing the best of TCS to French corporations. I am confident that this acquisition will help us accelerate our growth and presence in France."
It is expected that the latest Alti acquisition will strengthen TCS' ability to service its customers in France and other regions in Europe.
