IT
TCS to acquire Coastal Cloud for $700 million in all-cash deal
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IT major Tata Consultancy Services (TCS) has announced that it will acquire a 100% stake in Coastal Cloud for an all-cash consideration of $700 million (nearly Rs 6,286 crore).
This marks the largest acquisition by the software exporter to date and one of the largest by an Indian IT firm.
The news comes a few weeks after TCS joined forces with private equity group TPG in a multi-billion dollar joint venture to create gigawatt-scale, AI-ready data centres. Both partners agreed to cumulatively invest up to Rs 18,000 crore ($2.1 billion) as equity in…
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