TCS close to buying Deutsche Bank’s IT arm

guest · Oct 24, 2020

TCS close to buying Deutsche Bank’s IT arm
October 22, 2020
https://www.thehindubusinessline.co...ing-deutsche-banks-it-arm/article32921247.ece

Tata Consultancy Services is in talks to acquire Deutsche Bank’s IT services unit based in Bonn.

Multiple sources BusinessLine spoke to confirmed that the talks were at an advanced stage and it involves a complete takeover of the business and 1,400 employees of Postbank Systems, the IT services unit of the retail banking division of Deutsche Bank. The expected deal size is still not clear.

“The talks centre around re-badging Postbank employees into the TCS fold,” said a source in the know.
According to a Bloomberg report, talks are expected to result in a deal by the end of the year. When contacted, TCS declined to comment.
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TCS also has a large deal with Deutsche Bank, which was signed in 2013, to replace the bank’s core banking solutions with TCS Bancs in 30 countries. Large companies such as TCS are eyeing opportunities arising out of Covid-19 as tech usage is seeing a surge globally.
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Bloomberg: Deutsche Bank in Talks to Sell Tech Unit to Tata Consultancy

Deutsche Bank AG is in advanced talks to sell a technology services unit to Tata Consultancy Services Ltd., Asia’s biggest software exporter by market value, people with knowledge of the matter said.

The discussions about Bonn-based Postbank Systems AG are expected to result in a deal with the Indian company by the end of the year, the people said, asking not to be identified discussing the private information.
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guest · Nov 9, 2020

TCS to acquire Postbank Systems from Deutsche Bank
November 9, 2020
https://www.thehindubusinessline.co...ystems-from-deutsche-bank/article33059407.ece

India’s largest IT services firm Tata Consultancy Services (TCS) on Monday said it will acquire 100 per cent shares of Postbank Systems AG (PBS) from Deutsche Bank AG.

PBS has been the internal IT provider for Postbank AG, a subsidiary of Deutsche Bank, catering to the German retail banking market. PBS has approximately 1,500 employees across nine locations in Germany.
The transaction will see the employees of PBS become a part of the Mumbai-based company.

The deal will further add to TCS’ scale in Germany and strengthen its growth outlook, it said in a statement.
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Leukert added that TCS is already a trusted IT service partner for Deutsche Bank, and this strengthens the relationship further.

“We are confident that TCS is the ideal owner for Postbank Systems. With this transaction, we agreed on a structure that meets all parties’ interests. It provides clarity to Postbank Systems staff and the opportunity to become part of the success and growth story of TCS,” Leukert said.
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Brummelchen · Nov 9, 2020

Deutsche Bank is reorganizing its structure thus it sells subsidiaries or kick off employees. They are also going to close several agencies. I left them over 20 years ago with no regrets. They kicked ass clients as they separated into "Deutsche Bank" and "Deutsche Bank 24" because "24" indicated that the client is good for 5 millions (Deutsch-Mark that time) and any client could see for companies with such account about their "value" for orders. They reversed the separation but clients were gone:
https://www.faz.net/aktuell/wirtsch...ank-holt-die-privatkunden-zurueck-159937.html

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TCS close to buying Deutsche Bank’s IT arm

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