Business Standard

TCS acquires Pramerica Technology Services from Prudential Financial

No cash will change hands and TCS will take on more than 1,500 Pramerica employees.

Insurance
Premium

Saritha Rai | Bloomberg New Delhi
India’s Tata Consultancy Services Ltd. agreed to acquire Pramerica Technology Services from insurance giant Prudential Financial Inc., according to a person familiar with the matter, helping the insurer cut costs to counter low interest rates and the coronavirus fallout.
 
TCS and the Newark, N.J.-based life insurer signed the agreement for the Letterkenny, Ireland-based tech-services business Wednesday, with a few details still being worked out, said the person, asking not to be identified because the deal isn’t public. No cash will change hands and TCS will take on more than 1,500 Pramerica employees.

TCS declined to comment, while Prudential didn’t respond

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in