TCS Acquires BridgePoint Group
TCS Investment to Bolster Domain Expertise in US Financial Services Industry, and Retirement Services
NEW YORK, NY | MUMBAI, November 28, 2018: Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has acquired the business of BridgePoint Group, LLC, a U.S. management consulting firm catering to the financial services industry, and specializing in retirement services, through the purchase of select company assets.
TCS currently partners with eight of the top 10 US Banking, Financial Services and Insurance institutions, and offers retirement services across the globe. This acquisition augments TCS’ financial services and insurance domain knowledge, particularly in the area of US retirement services, where BridgePoint’s team of experts currently provide strategic insights and advisory services around growth, business agility, customer experience and technical transformation.
BridgePoint’s entire management team and key experts will join TCS. Their deep customer relationships and significant industry knowledge adds to TCS’ ability to provide digital solutions that enhance sponsor and participant experience, and drive Business 4.0 transformations in the $1 trillion US retirement services market.
“The US retirement business is complex, so BridgePoint’s deep industry expertise and team of highly experienced consultants will enable TCS to develop a robust customer-focused retirement services business,” said Suresh Muthuswami, President & Global Head, BFSI Platform, TCS. “This move underscores our long-term commitment to this industry, enhancing our ability to provide end-to-end engagements, from strategic consulting to servicing of retirement assets. We welcome the BridgePoint team to TCS.”
“We are very excited about this transaction, being one that brings benefits to all parties,” said Barbara March, Chief Executive Officer, BridgePoint. “Our customers require access to new and innovative solutions, capitalizing on both BridgePoint’s broad understanding of the industry’s complexities and TCS’ expertise in enabling digital transformations. The portfolio of services offered by TCS will offer growth potential and superior service to retirement providers across the US.”
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 411,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $19.09 billion in the fiscal year ended March 31, 2018, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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Bridgepoint is a woman-led business consulting firm that guides financial institutions through growth and change, navigating disruption and predicting trends. BridgePoint consultants hold deep industry knowledge alongside senior business acumen. This combination of insight and experience unlocks client potential, achieves exponential improvements in performance, and sustainable strategies for long-term growth.
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