IT major Tata Consultancy Services (TCS) on Tuesday said it will acquire GE s stake in Tata Consultancy Services Saudi Arabia for USD 12,471 (about Rs 9.13 lakh). In September 2013, TCS announced the creation of an all-women business process services centre in Riyadh (Saudi Arabia) in partnership with GE. Given GE s planned exit from this partnership, the partners have entered into a definitive agreement subject to closing conditions for transfer of GE s stake in the venture to TCS, a regulatory filing said. On completion of required governance and business changes to effect this transition, TCS will assume full responsibility of the centre, it added.
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TCS to acquire GE s stake in TCS Saudi Arabia
IT major Tata Consultancy Services (TCS) on Tuesday said it will acquire GE s stake in Tata Consultancy Services Saudi Arabia for USD 12,471 (about Rs 9.13 lakh). In September 2013, TCS announced the creation of an all-women business process services centre in Riyadh (Saudi Arabia) in partnership with GE. Given GE s planned exit from this partnership, the partners have entered into a definitive agreement subject to closing conditions for transfer of GE s stake in the venture to TCS, a regulatory filing said.
On completion of required governance and business changes to effect this transition, TCS will assume full responsibility of the centre, it added.
TCS to acquire General Electric s stake in TCS Saudi Arabia
TCS said that anti-trust approval in Saudi Arabia is being sought for the transaction, which is expected to close in 3-6 months
BusinessToday.In | January 12, 2021 | Updated 20:30 IST
TCS s shareholding in Tata Consultancy Services Saudi Arabia will increase to 100%
Tata Consultancy Services (TCS), the country s largest software exporter, on Tuesday said it will acquire General Electric s (GE) stake in Tata Consultancy Services Saudi Arabia for $12,471 (about Rs 9.13 lakh).
In September 2013, TCS had announced creation of a first of its kind All-Women Business Process Services Center in Riyadh (Saudi Arabia), in partnership with GE. Over the past seven years, the center has expanded from 20 to almost 1,000 women employees and won several awards including the King Khalid Award 2019 for Responsible Competitiveness and the 2018 Future of Workplace Award for Best women development and leadership programme .
IT major Tata Consultancy Services (TCS) on Tuesday said it will acquire GE's stake in Tata Consultancy Services Saudi Arabia for USD 12,471 (about Rs 9.13 lakh).
TCS arm completes acquisition of Postbank Systems from Deutsche Bank
Posted On: 2021-01-01 00:48:13 (Time Zone: Arizona, USA)
Tata Consultancy Services Limited had earlier announced the acquisition of 100% shares of Postbank Systems AG from Deutsche Bank AG through its subsidiary Tata Consultancy Services Netherlands B.V. The acquisition was to be completed by year end 2020 subject to customary regulatory and governmental approvals.
The aforesaid acquisition of Postbank Systems AG has been completed today.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2870.2 as compared to the previous close of Rs. 2908.85. The total number of shares traded during the day was 834286 in over 9935 trades.