India's Tata Consultancy Services (TCS) has acquired US management consulting firm BridgePoint Group in a move it says will boost its domain knowledge in financial services and insurance.
Specifically, the acquisition would augment its expertise in US retirement services, the Indian IT consulting group said in a statement on Thursday, adding that it purchased BridgePoint's "select company assets".
Under the merger agreement, the US company's entire management team and key experts would join TCS. "Their deep customer relationships and significant industry knowledge adds to TCS' ability to provide digital solutions that enhance sponsor and participant experience, and drive Business 4.0 transformations in the US$1 trillion US retirement services market," TCS added.
TCS did not reveal the financial details involved in the merger.
Earlier this year, the Indian company snagged a 10-year outsourcing deal with Nielsen worth US$2.25 billion. The contract included a digital transformation strategy and was a renewal of a prior relationship with Nielsen that goes as far back as 2007.
Sourced from ZD Net - written by Eilen Yu