Reuters: Technology News: India's Tata Consultancy buys French IT provider Alti

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India's Tata Consultancy buys French IT provider Alti Apr 9th 2013, 05:48 Tweet Share this Email Print Related News Analysis: The end of Indian IT staffing as we know it Mon, Mar 25 2013 Analysis & Opinion People say we should've priced our coffee higher – Tata Starbucks CEO Low-key outcome as Singh meets Xi on BRICS sidelines An employee of Tata Consultancy Services (TCS) works inside the company headquarters in Mumbai March 14, 2013. Credit: Reuters/Danish Siddiqui BANGALORE | Tue Apr 9, 2013 1:48am EDT BANGALORE (Reuters) - Tata Consultancy Services (TCS.NS), India's top software services provider, will buy privately held Alti SA of France for 75 million euros ($98 million) -- an acquisition that highlights the industry's growing interest in France and Germany. The French provider of business management software services had revenues of 126 million euros in 2012 with customers in financial services, manufacturing and utilities. "This acquisition underlines our long-term, strategic commitment to France, which is the third largest IT services market in Europe," TCS CEO N. Chandrasekaran said in a statement. India's leading IT firms are looking to reduce their reliance on Britain as they expand in Europe. European companies are also seen as increasingly open to sending IT work to centers in India as it can help them cut IT costs by as much as 70 percent. Europe, including Britain, is TCS's largest market after the United States. TCS will report its fiscal fourth quarter and annual results on April 17. (Reporting by Harichandan Arakali; Editing by Edwina Gibbs) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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