Tata Consultancy Services, the leading IT Company announced on 9 April 2013 that it signed definitive agreements for the acquisition of 100 percent equity shares in Alti SA, an IT services company in France, for a value of 75 million Euros in an all-cash transaction. The acquisition will help TCS in strengthening the ability of the company and establish its footprints in France as well as other regions of Europe.
Alti SA is a leading French technology services firm with strong expertise in IT services including enterprise solutions, assurance and CRM solutions. It is a privately-held company owned by its management and two private equity funds, CM-CIC LBO Partners and IDI.
Assessed at more than 30 billion Euros, the France IT services market is the largest in Europe, after the UK and Germany. TCS has been operational in France since 1992 and has more than 50 clients in the country. The acquisition will help TCS in getting into the list of top IT services firms in the country.
It is important to note that TCS was rated as the BIG 4 brand in global IT services industry in 2013. TCS has more than 263000 best-trained consultants of the world in 44 countries.