Bangalore: Tata Consultancy Services (TCS) is all set to acquire French IT services company Alti SA for 75 million Euros in an all-cash transaction. The acquisition will boost TCS’ services and provide a better customer base for the company in France and other regions in Europe.

Alti SA is a French IT services company that provides strong expertise in enterprise services sector that includes enterprise resolutions, assurance and CRM solutions. A privately held company, Alti SA recently projected a massive revenue growth from 64 million euros in 2007 to 126 million euros in 2012. The growth primarily was assisted by its two private equity funds, CM-CIC LBO Partners and IDI.

Alti SA is considered to be as the one of the top five integrators of enterprise solutions in France. The company provides its expertise to various verticals like banking, financial services, luxury, manufacturing and utilities sectors.

N Chandrasekaran, CEO and managing director, TCS, said, "This acquisition underlines our long-term, strategic commitment to France, which is the third-largest IT services market in Europe. The acquisition of Alti SA will help us serve our clients in France and across Europe more comprehensively with an expanded set of services and solutions, bringing the best of TCS to French corporations. I am confident that this acquisition will help us accelerate our growth and presence in France,” as quoted in TOI.

Since 1992, TCS has been operating in France as the country is very well known to be one of the largest IT service market in Europe. With the acquisition of Alti SA, TCS have significantly strengthened its place in Europe.

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