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TCS to acquire 100% stake in PBS from Deutsche Bank; share price falls

The transaction is subject to both parties finalizing further agreements, which they intend to do by end 2020.

November 10, 2020 / 09:29 AM IST
 
 
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Tata Consultancy Services (TCS) share price fell in early trade on November 10 after the company said it is going to acquire Postbank Systems from Deutsche Bank.

The company and Deutsche Bank AG announced an agreement under which TCS will acquire 100 percent of the shares of Postbank Systems AG (PBS) from Deutsche Bank AG, the company reported bourses.

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

This will further add to TCS’ scale in Germany and strengthen its growth outlook.