Tata Consultancy Services Acquires Citigroup Global Services (CGSL)

December 31, 2008

Tata Consultancy Services (TCS) acquired Citigroup Inc.'s interest in Citigroup Global Services Limited (CGSL), the India-based captive BPO for Citi, for roughly $505–$512 million. As part of the deal TCS signed a services agreement to provide process outsourcing to Citi and its affiliates worth about $2.5 billion over 9.5 years, expanding TCS's banking BPO capabilities and scale.

Buyers
Tata Consultancy Services (TCS)
Targets
Citigroup Global Services Limited (CGSL)
Sellers
Citigroup Inc.
Industry
IT Services
Location
India
Transaction Type
Buyout

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