India’s Tata Consultancy Services buys PE-owned French IT firm
Two French private equity firms have exited IT services provider Alti to Tata Consultancy Services (TCS) for EUR75 million ($98 million) in cash as the Indian business outsourcing company seeks to broaden its footprint in Europe.
CM-CIC LBO Partners and IDI Group had been investors in Alti, alongside company management, since 2008, during which period turnover nearly doubled from EUR64 million to EUR126 million. It has 1,200 staff...
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