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TCS to acquire PostBank Systems from Deutsche Bank

Tata Consultancy Services (TCS) on Tuesday announced the acquire 100% stakes in the ‘Postbank Systems’ from Deutsche Bank.

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According to the statements, “The transaction is subject to both parties finalizing further agreements, which is intended to complete by the end of 2020. Furthermore, the transaction is subject to customary regulatory and governments approvals.”

Speaking on the acquisition, N G Subramaniam, Chief Operating Officer, and Executive Director, TCS, said, “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.”