Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions firm has agreed to acquire 100% equity shares in Alti SA, an IT services company in France.

The acquisition which is valued at  € 75 million in an all-cash transaction will propel TCS into the list of the top IT services firms in the country.It will strengthen TCS’ ability and footprint to service its customers in France and other regions in Europe.

Privately-held company Alti is owned by its management and two private equity funds, CM-CIC LBO Partners and IDI Alti SA which is a leading French technology services firm with strong expertise in IT Services including Enterprise Solutions, Assurance and CRM solutions.

It supported its growth from a revenue base of € 64m in 2007 to € 126 m in 2012. Regarded as one of the top 5 system integrators of Enterprise Solutions in France, it’s key customers comprise several top French corporations in the banking, financial services, luxury, manufacturing and utilities sectors. The company has 1,200 employees based in France, Belgium and Switzerland.

N. Chandrasekaran, CEO and Managing Director, TCS, said, “This acquisition underlines our long-term, strategic commitment to France, which is the third largest IT services market in Europe. The acquisition of Alti SA will help us serve our clients in France and across Europe more comprehensively with an expanded set of services and solutions, bringing the best of TCS to French corporations. I am confident that this acquisition will help us accelerate our growth and presence in France.”

Assessed at over € 30 billion, the France IT Services market is largest in Europe, after the UK and Germany. TCS has been operating in France since 1992 and has over 50 clients in the country, including several of the CAC 40. Over the last 5 years, TCS has significantly strengthened its position in the country through local hiring and investments. In recognition of these initiatives, the company had been conferred the special award for Investment and Innovation by the Greater Paris Investment Agency in 2012.
  
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