TCS buys France’s Alti for over Rs 530 crorehttps://indianexpress.com/article/news-archive/web/tcs-buys-frances-alti-for-over-rs-530-crore/

TCS buys France’s Alti for over Rs 530 crore

IT services major Tata Consultancy Services (TCS) has said it has completed the acquisition of French enterprise solutions provider Alti

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

In April this year,the Mumbai-headquartered company had announced it will acquire Alti for euro 75 million (about Rs 533 crore) in an all-cash deal to help transform TCS into a major player in France. The acquisition gives the firm access to blue-chip French and European clients in banking,luxury,manufacturing and utilities sectors.

“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.