Tata Consultancy Services Ltd (TCS) completed the acquiring of France's Alti SA firm in a Rs.590 crore all-cash deal. TCS CEO and MD, N. Chandrasekaran signed the final agreement on Wednesday.
This deal will help Tata Group company to expand its reach in Europe as Alti has top European clients in banking, luxury, manufacturing and utilities sectors.
TCS had announced to buy Alti on April 9, 2013.
Alti is regarded as one of the top five system integrators of SAP solutions in France.
France IT services market is third largest after the UK and Germany in Europe.
Alti SA is an information technology (IT) services company, which was owned by its management and two private equity funds, CM-CIC LBO Partners and IDI. Alti has 1,200 employees in France, Belgium and Switzerland.
TCS is India's largest software services exporter.
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