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TCS acquires London-based design company W12 Studios

Tata Consultancy Services Ltd (TCS) on Thursday said it has acquired London-based design firm, W12 Studios, its first acquisition in four years. The acquisition also signifies that TCS is open to acquisitions instead of only building technologies and talent in-house. The company last invested $50 million in a joint venture with Mitsubishi Corp. in Japan in 2014. W12 Studios was founded in 2012 and has about 50 people. The company did not disclose the financial details of the acquisition. TCS’s COO N. Ganapathy Subramaniam  however said that TCS is a relatively new entrant as compared to Accenture, which started this business in 2009 and has more than $7.8 billion in revenue. Digital accounted for 28% or $1.46 billion of TCS’s $5.2 billion revenue in the July-September period.

Read More at Livemint News date : 9 Nov 2018, Friday

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