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Tata Consultancy Services Expands Banking Products Portfolio and Consolidates European Operations.

Publication: PR Newswire
Publication Date: 31-OCT-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Acquires majority stake in Swiss partner

MUMBAI, India, Oct. 31 /PRNewswire/ -- Tata Consultancy Services (TCS), the leading global IT services and consultancy organization, announced that it had expanded its portfolio of banking products and consolidated its European operations after completing the acquisition of 75% equity stake in its Switzerland-based partner, TKS-Teknosoft (TKS), from the promoter for CHF 100.5 million.

"This acquisition is very important on two fronts. It gives TCS a direct presence in the key markets of Switzerland and France with an ability to serve customers with a single face,...

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