TCS buys Aussie consultancy firm

To pay A$15 million as performance payments

Tata Consultancy Services (TCS) has acquired Australian consultancy firm TCS Management (TCSM) for A$1.7 million and performance payments of A$15 million over five years.

TCSM (formerly Total Communications Solutions), a privately owned company, recorded a turnover of A$5.5 million during the financial year ended June 30, 2006.

TCS has appointed Neville Roach, chairman of FNS (a Tata group company), chairman of TCSM. The company would retain key personnel, including the current management team of TCSM, most of whom, have over 15 years of industry experience, TCS said in a release here today.

The Indian software major, in 2005, acquired FNS "� a Sydney-based software solutions company for "� $26 million.

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

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

TCSM specialises in business and technology transformation bringing in benefits like strategy conversion, programme alignment, portfolio balancing and navigation services.

It also implements core delivery management solutions for the larger banking clients.

The Australian company, set up in 1993, has clients such as ANZ Bank, Commonwealth Bank of Australia, National Australia Bank as well as investment banks Macquarie and Goldman Sachs JBWere.

TCS has been operating in Australia for over two decades and has over 500 consultants based in the country.

Its clientele there includes BHP, Woolworth, ANZ Bank, St George Bank, Alcoa, Rio Tinto and the state of Victoria.