TCS acquires Australian consultancy firm

Our Corporate Bureau
08 November 2006

Tata Consultancy Services Ltd (TCS) has announced the acquisition of 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 spread over five years.

TCSM is privately owned and has over 35 senior consultants and had a turnover of A$ $5.5 million for the financial year ended June 30, 2006.

TCSM specialises in business and technology transformation bringing benefits such as strategy conversion, programme alignment, portfolio balancing and navigation services. It also implements core delivery management solutions for the larger banking clients.

Neville Roach, the chairman of the TCS-owned FNS, the Sydney-based company that was acquired by TCS in 2005, will be the chairman of TCSM. Key personnel, most of whom have over 15 years of industry experience, including the current management team will retain their positions.

"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'' global capabilities in consulting, IT services and BPO to provide greater value to Australian business," said Girija Pande, head, Asia-Pacific, TCS.

TCSM was established in 1993 and has clients such as ANZ Bank, Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) together with investment banks Macquarie and Goldman Sachs JBWere.