TCS acquires BridgePoint Group

India's biggest software services firm Tata Consultancy Services (TCS) Wednesday said it has acquired the business of BridgePoint Group, LLC, a US management consulting firm.

BridgePoint Group caters to the financial services industry and specialises in retirement services through the purchase of select company assets.

"This acquisition augments TCS' financial services and insurance domain knowledge, particularly in the area of US retirement services, where BridgePoint's team of experts currently provide strategic insights and advisory services around growth, business agility, customer experience and technical transformation," TCS said in a statement.

However, the quantum of acquisition deal could not be ascertained.

The statement added that BridgePoint's entire management team and key experts will join the Mumbai-based company.

BridgePoint's deep customer relationships and significant industry knowledge will add to TCS' ability to provide digital solutions and drive transformation in the USD 1 trillion US retirement services market, the statement said.

The US retirement business is complex, so BridgePoint's deep industry expertise and team of highly experienced consultants will enable TCS to develop a robust customer-focused retirement services business, TCS President and Global Head (Banking, Financial Services and Insurance Platform) Suresh Muthuswami said.

"This move underscores our long-term commitment to this industry, enhancing our ability to provide end-to-end engagements, from strategic consulting to servicing of retirement assets," he added.

The portfolio of services offered by TCS will offer growth potential and superior service to retirement providers across the US, Barbara March, Chief Executive Officer at BridgePoint, said.