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TCS to acquire Deutsche bank unit
November 10, 2020
India’s biggest IT benefits firm Tata Consultancy Services (TCS) on Monday said it will procure 100% portions of Postbank Systems AG (PBS) from Deutsche Bank AG.
PBS has been the inside IT supplier for Postbank AG, a subsidiary of Deutsche Bank, providing food for the German retail banking market. PBS has around 1,500 representatives across nine areas in Germany. The exchange will see the workers of PBS become a piece of the Mumbai-based organization.
In an administrative documenting, TCS said “100% of the offers will be procured by TCS Netherlands BV (an auxiliary of TCS)” and the “assessed exchange an incentive at a representative 1 euro”.
The exchange is dependent upon the two players concluding further arrangements, which they plan to do by end-2020. Further, the exchange is dependent upon standard administrative and legislative endorsements.
The arrangement will additionally add to TCS’ scale in Germany and reinforce its development viewpoint, it said in an assertion. TCS is positioned by examiners as the quickest developing IT specialist organization in Germany with a 10-year CAGR of more than 24 percent.
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