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Wednesday, July 24, 2013

Tata consultancy Services(TCS)Acquires Alti SA(France) Wednesday July 24,2013

Tata Consultancy Services (TCS) on Wednesday said it has completed the acquisition of French enterprise solutions provider Alti SA, a move that will help the Tata Group company to expand its reach in Europe

In April 2013, the Mumbai-headquartered company had announced it will acquire Alti SA for € 75 million —about Rs. 533 crore — in an all-cash deal to help transform TCS into a major player in France

TCS CEO and Managing Director N. Chandrasekaran and Alti’s founders signed the final agreement to commence the integration of Alti into TCS’ operations in France. The acquisition had been initially announced in April 2013”, TCS said in a statement


Note

In calendar year 2012, the IT and IT-enabled services sector saw cross-border merger and acquisition transactions worth $1.4 billion (Rs. 7,630 crore) with a bulk of the deals happening in Europe ($640.4 million) and North America ($591 million)


Alti SA was a privately-held company owned by its management and two private equity funds, CM-CIC LBO Partners and IDI, which supported its growth from a revenue base of € 64 million in 2007 to € 126 million in 2012. Alti SA is regarded as one of the top five system integrators of SAP solutions in France.It includes several top French corporations in the banking, financial services, luxury, manufacturing and utilities sectors as its key customers.

Alsti SA has 1,200 employees based in France, Belgium and Switzerland

Assessed at over € 30 billion, the France IT Services Market is the third-largest in Europe, after UK and Germany. TCS has been operating in France since 1992 and has over 50 clients in the country

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