TCS to acquire Postbank Systems in Germany
Tata Consultancy Services (TCS) and Deutsche Bank ...
Tata Consultancy Services (TCS) and Deutsche Bank AG in November announced an agreement under which TCS will acquire 100 per cent shares of Postbank Systems AG (PBS) from the latter.
PBS is the full-range captive IT service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank. PBS and its around 1,500 employees will become part of TCS, deepening the relationship between the two organisations, said a TCS statement.
“This will further add to TCS’ scale in Germany and strengthen its growth outlook. TCS is ranked by analysts as the fastest-growing IT service provider in Germany with a 10-year CAGR of over 24 per cent,” it said.