A $9 billion bill for Corus doesn't appear to have deterred the Tata's from shopping for more. Tata Consultancy Services has now picked up a 75% stake in Swiss company, TKS-Teknosoft for $80 million, and the acquisition is expected to help the Indian software giant access the Swiss and French financial markets, reports CNBC-TV18.

The acquisition will add private banking and wealth management software to the firm's kitty. According to TCS, it will continue looking for more expansions in Europe.

N Chandrasekaran, head-global operations, TCS, says that the Teknosoft buyout not only provides a direct entry into the Swiss and French markets but also adds two new banking products, Alpha and e-Portfolio, to the company's portfolio. According to Chandrasekaran, Teknosoft's 2005 revenue was 71.5 million Swiss Francs and its profits for that year were 9.5 million Swiss Francs.

According to Chandrasekaran, TCS will now integrate banking products under a common brand. The acquisition, he says, gives a wider footprint for TCS's banking product, Quartz.

Excerpts from CNBC-TV18's exclusive interview with Chandrasekaran, Head-Global Operations at TCS:

What is the reason for this move, to buy out stake and how material is the Swiss and French market for TCS?
It's a very important move. Basically, there are three important elements to the deal. One is that the partner; TKS Teknosoft, was representing us in the Switzerland and the French markets, so now we have full direct entry into these markets. The second aspect is that they had distributional marketing rights of our flagship banking product, Quartz, across Europe and some parts of North Africa. But now we will have full marketing and distribution rights for Quartz worldwide - that's another significant aspect.

The third one is that we are adding two more products to our portfolio, which is Alpha for private banking, a new portfolio for wealth management. This in a way completes our footprint in the banking and financial services solution space.

So from all these three points of view, it is a very important milestone both in the European market as well as in the product business.

In terms of financials, what sort of revenues, profits and margins does this company have?
Last year this company had revenues of about 71.5 million Swiss Francs, with about 9.6 million net income. So it's quite profitable and it's quite well run. Now we expect that the synergies will kick in because we will be able to integrate our product solutions portfolio.

The second thing is it also brings in the sales and product engineering efforts in a common platform, so this will start to kick in.

Where is Quartz going as a product because when we hear of product successes in the European market or in the global market, we hear quite a bit about Flexcube and what i-Flex has achieved? So how does Quartz and your other suite of products in the financial space compare with i-Flex, which seems to have a lead in the products space globally?
From TCS' point of view, what we have done now is to build a complete footprint, with FNS. We have a strong product in retail banking and with Quartz we have a strong product in wholesale banking area, especially in the securities payments, asset management areas, etc.

We have the NCS in the custody space and we have E-Clear Settle, which is another product that we developed in the clearing and settlement space. We are going to consolidate all these products.

One will hear a lot more. This is the first significant step because this allows us to integrate all our products seamlessly and gives it a strategic direction. So what one will hear is a lot more in the product story. It's going to be a separate line of business for TCS and we will integrate these products.

We will bring it under a common brand and this will be a significant growth engine from the quarters to come. Today we have a significant number of clients for each one of these products, but since all these are run as independent separate niche products, you are not seeing the collective synergies, but this move will bring in the collective synergies.