India's Tata Consultancy acquires French IT provider Alti

  • India’s top software services provider, Tata Consultancy Services (TCS), has acquired Alti SA of France for $98 million.

    Last year, the privately held French provider of business management software services reported revenues of $167 million and boasts 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 on Tuesday.

    In recent years, India's leading IT firms are looking to reduce their dependence on Britain as they expand across the rest of the continent.

    Europe, including Britain, is TCS's largest market after the United States.

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