TCS has completed the acquisition of 100% shares of Postbank Systems AG from Deutsche Bank AG through its subsidiary Tata Consultancy Services Netherlands B.V.
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.
“We are pleased to deepen our long-standing partnership with Deutsche Bank, continue to help accelerate their digital transformation, and to acquire market specific capabilities in the banking domain,” said N G
Subramaniam, Chief Operating Officer and Executive Director, TCS. “We warmly welcome Postbank Systems’ IT professionals into the TCS family, and invite them to avail of the learning and development opportunities here, and help script the next chapter of TCS’ growth in Germany.”
Present in Germany since 1991, TCS currently partners with over 100 German corporations in their growth and transformation journeys, including 17 of the DAX30.
A part of the Tata group, India’s largest multinational business group, TCS has over 453,000 consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India.
–AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.