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TCS to script a new chapter of growth in Germany

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TCS to acquire Post bank- The technology business of Deutsche bank
TCS to acquire Post bank. Photo by Jonas Tebbe on Unsplash

TCS—the IT services and consulting company—is set to acquire Post-bank systems AG from Deutsche Bank. While the deal valuation remains under wraps, this deal is regarded as a way for TCS to widen its presence in Germany.

The acquirement rate is 100% of Postbank shares with the shift of previous 1500 employees to TCS. Postbank system offers IT services to Deutsche bank. The deal is in its finalization stage with the agreement’s competition by the end of 2020 with a face value as the price.

The impact of the mega-deal

TCS is considered an appropriate owner for Postbank Systems as it is a trusted IT service partner for Deutsche bank. The data and innovation officers at Deutsche bank regard this move to build one technology organization.

TCS would embark upon accelerating its digital transformation and capitalizing on market capabilities in the banking sector. Also, after this transaction, Deutsche bank would initiate expanding TCS’s reach in Germany.

The COO of TCS- NG Subramanium warmly welcomed Postbank employees into the TCS family by saying: “We invite you to avail learning and development opportunities at TCS.”

This deal also opens the avenues for Deuthce bank to save its cost as both Postbank and TCS collaborate. The extravagant cost savings will amount to 120 million euros.

With the ongoing pandemic, Deutsche bank is also planning to support its restructuring plan by layoffs and job cuts. Even last year, the CEO of Deutsche Bank Christian Sewing had expressed its target of cutting down 18,000 jobs.

With Postbank’s employees merging with the TCS family, the target of technology migration is served.

TCS has been the company that has infused life in many companies in the past as well. A startling example of this is Citi Group Global services, which was lent a helping hand by TCS during the 2008 financial crisis.

The TATA Group flagship is ardently looking at strengthening its stand in Germany.

Apart from the expansion plans, Deutsche bank and TCS also plan to indulge in transformational and strategic projects.

An avid learner having infatuation for numbers and finance. Also, an individual with unfiltered opinions who likes to mix the metrics of both professionalism and creativity.

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