TCS buys Australian consultancy firm for A$15mn

TCS buys Australian consultancy firm for A$15mn

Our Web Bureau / Mumbai November 8, 2006

Tata Consultancy Services (TCS) has acquired TCS Management (formerly called Total Communication Solutions), a privately-owned boutique consulting company in Australia, for an up-front cash payment of A$ 1.7 million plus performance payments for a total consideration of A$ 15 million over five years.

According to a release issued by TCS to the BSE today, TCSM is privately owned, and has over 35 senior consultants with a total turnover of A$5.5 million for the financial year ended June 30, 2006.

"Neville Roach, chairman of TCS-owned FNS, will be the chairman of TCSM. Key personnel, most of whom have over 15 years of industry experience, including the current management team will remain with the company," the release added.

"The acquisition of TCSM is part of the strategy to substantially grow our Australian business and provide high-end business and IT consulting to our large Australian client base. Local knowledge and domain consulting expertise brought by TCSM will complement TCS