TCS acquires Pune-based strt-up for Rs188 crore
16 August 2012
Software exporter Tata Consultancy Services (TCS) has signed an agreement to acquire a Pune-based start up firm Computational Research Laboratories (CRL) for Rs 188 crore ($34 million).
''CRL's core capabilities in designing and building high performance environments coupled with our strong focus on cloud-based, domain-rich industry platforms makes TCS very relevant to address the customers' growing requirement of HPC applications,'' TCS managing director and chief executive officer N Chandrasekaran said.
CRL is a fully-owned subsidiary of Tata Sons - the holding company for many Tata Group companies - and provides high-performance computing (HPC) solutions.
TCS expects this acquisition to enable it to offer HPC solutions and cloud computing services to its customers.
HPC applications are increasingly finding relevance and use among large enterprises, as they look to solve complex business problems like reducing their time-to-market. This is driving an increase in adoption of HPC based applications for modeling, simulations, visualisation and big data analysis across the business.