TCS acquires consultancy firm in Australia

New Delhi, Nov 8 (UNI) Tata Consultancy Services Ltd (TCS) today said it has acquired Australia-based TCS Management(TCSM), a privately-owned boutique consulting company for an all cash deal of 1.7 million Australian dollar, plus performance payments for a total consideration of 15 million Australian dollars over 5 years.

With a total turnover of 5.5 million Australian dollar during the financial year ended June 30, 2006, TCSM has over 35 senior consultants.

''The acquisition of TCSM is part of the strategy to substantially grow our Australian business and provide high-end IT consulting to our large Australian client base,'' company's Asia-Pacific Head Girija Pande said.

Local knowledge and domain consulting expertise brought by TCSM will complement TCS global capabilities in consulting, IT services and BPO to provide greater value to Australian business, Ms Pande added.

TCSM was established in 1993 and has clients such as ANZ Bank, Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) together with investment banks Macquarie and Goldman Sachs JBWere.

The other key sectors in which TCSM will operate are telecommunications and media, retail and the government sector.

It specialises in business and technology transformation bringing benefits such as strategy conversion, programme alignment, portfolio balancing and navigation services. It also implements core delivery management solutions for the larger banking clients.

Tata Consulting Services has been operating in Australia for over two decades and has over 500 consultants based in Australia servicing clients like BHP, Woolworth, ANZ Bank, St George Bank, Alcoa, Rio Tinto as well as the state of Victoria.

The company last year acquired FNS, a Sydney-based software solutions company for 26 million dollars.

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