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TCS Completes Citi's GSL
By CXOtoday Staff
Mumbai, Dec 31, 2008 1705 hrs IST
Tata Consultancy Services (TCS) has completed the acquisition of Citigroup's global services limited (CGSL) for $512 million. The acquisition will broaden TCS's portfolio in the IT and BPO services in the BFSI sector - according to an official statement.
In addition to the sale, Citi also entered into agreement with TCS to provide $2.5billion worth outsourcing services to Citi and its affiliates.
N.Chandrasekaran, COO and executive director of TCS said, "This acquisition will give us the ability to offer an end-to-end, domain-led solution for business operation, enabling us to create platforms with both domain expertise alongwith our suite of products for the financial service sector clients."
Related Links:
TCS Bags Citigroup BPO
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