Tata Consultancy Services Ltd.

Tata Consultancy Services (TCS) has entered into agreement with Deutsche Bank AG under which TCS will acquire 100% of the shares of Postbank Systems AG (PBS) from Deutsche Bank AG. PBS is the full-range captive IT service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank.

PBS and its around 1,500 employees will become part of TCS, deepening the relationship between the two organizations. This will further add to TCS’ scale in Germany and strengthen its growth outlook. TCS is ranked by analysts as the fastest-growing IT service provider in Germany with a 10-year CAGR of over 24 percent. The transaction is subject to both parties finalizing further agreements, which they intend to do by end 2020. Furthermore, the transaction is subject to customary regulatory and governmental approvals.

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.