TCS eyes US retirement market with BridgePoint buy

India's Tata Consultancy Services has acquired BridgePoint Group in a move it says will boost its financial services and insurance domain knowledge, specifically, in the US retirement market.

India's Tata Consultancy Services (TCS) has acquired US management consulting firm BridgePoint Group in a move it says will boost its domain knowledge in financial services and insurance.

Specifically, the acquisition would augment its expertise in US retirement services, the Indian IT consulting group said in a statement on Thursday, adding that it purchased BridgePoint's "select company assets".

Under the merger agreement, the US company's entire management team and key experts would 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 US$1 trillion US retirement services market," TCS added.

TCS did not reveal the financial details involved in the merger.

Earlier this year, the Indian company snagged a 10-year outsourcing deal with Nielsen worth US$2.25 billion. The contract included a digital transformation strategy and was a renewal of a prior relationship with Nielsen that goes as far back as 2007.

Related Coverage

Will Flipkart and Amazon kill India's retail industry?

Brick-and-mortar retailers in India want special protection from deep discounting e-commerce behemoths Amazon and Flipkart, but the flip-flopping government may not come to their aid this time around.

Apple talks big about India, but its revenues are tanking

Apple's revenues may fall by as much as a third, but profits have trebled. What on Earth is going on in India?

Jio's 4G availability 'hugely impressive': OpenSignal

Reliance Jio has the highest 4G availability and lowest latency in India, while Airtel has the fastest download speeds and Vodafone's Idea has the fastest upload speeds, according to OpenSignal.

Like their global counterparts, Indian youths fall prey to Snapchat dysmorphia

The need to look like our selfies has led to a huge spike in plastic surgery, but contrary to what you may think, it has less to do with our vanity and more to do with mental health.

Reliance is betting that it, and not Walmart, will be Amazon's arch-rival in India

If Reliance manages to execute its triple play of content, carriage, and commerce, it could become a retail juggernaut that even a seasoned global giant like Amazon will find difficult to compete with.