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Tata Acquires BridgePoint Group For Financial Services Push

Tata Consultancy Services (TCS) has acquired BridgePoint Group, a management consulting firm supporting the financial services and retirement services vertical. Financial terms were not disclosed.

BridgePoint’s management team along with key experts will join TCS, though executive names and headcount figures were not disclosed.

Describing the deal, Suresh Muthuswami, president & global head, BFSI Platform, TCS, said:

"The US retirement business is complex, so BridgePoint's deep industry expertise and team of highly experienced consultants will enable TCS to develop a robust customer-focused retirement services business. This move underscores our long-term commitment to this industry, enhancing our ability to provide end-to-end engagements, from strategic consulting to servicing of retirement assets. We welcome the BridgePoint team to TCS."

TCS and Financial Services

TCS has a strong financial services footprint, working with eight of the top 10 US Banking, Financial Services and Insurance institutions. The India-based company has 411,000 employees spread across 46 countries. The company's revenue rose 10 percent in terms of U.S. dollars for its Q2 fiscal 2019 compared to the same period the previous year, TCS disclosed in October 2018.

TCS also faced a key lawsuit in recent months, after it was accused of discriminating against American employees. But a jury sided with TCS in the case, as the Economic Times reports.