Hungry for acquisitions: TCS
New Delhi: India's largest IT services firm Tata Consultancy Services (TCS) is "hungry" for acquisitions and is scouting for assets that can bring in intellectual property and widen market reach to further accelerate growth.
Speaking to PTI, Chief Operating Officer N Ganapathy Subramaniam said TCS had acquired two entities -- W12 and BridgePoint Group -- last year and both of them have been integrated well with the Mumbai-based firm.
"We continue to remain open and hungry for acquisitions. We have one of the best track records in terms of acquiring companies and integrating them... the approach is that clearly, we are in the market looking for the right asset which will add certain amount of IP (intellectual property), market reach or client addition," he said.
TCS, which had acquired French SAP service provider acquire Alti SA for 75 million euros (about Rs 533 crore) in 2013, has been focussing on organic growth even as its global and domestic rivals went on an acquisition spree.
Infosys acquired consumer insights agency WongDoody for $75 million last year. Wipro's investment in the digital space includes entities like Designit and Cooper.
TCS, in November last year, announced the acquisition of W12 Studios (for an undisclosed amount). A digital design studio based in London, the acquisition of W12 was part of TCS' efforts to bolster its digital and creative design capabilities.
In the same month, TCS acquired the business of BridgePoint Group, LLC, a US management consulting firm (for an undisclosed sum).
The Mumbai-based company, which reported a 17.7 percent growth in profits at Rs 8,162 crore and 18.5 per cent rise in March 2019 quarter revenues to Rs 38,010 crore, continues to remain bullish about growth this fiscal.