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)
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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