M&A Deal Summary

TCS Acquires Citigroup Global Services

On October 8, 2008, TCS acquired information technology company Citigroup Global Services from Citi for 505M USD

Acquisition Highlights
  • This is TCS’s 5th transaction in the Information Technology sector.
  • This is TCS’s largest (disclosed) transaction.
  • This is TCS’s 5th transaction in India.

M&A Deal Summary
Date 2008-10-08
Target Citigroup Global Services
Sector Information Technology
Buyer(s) TCS
Sellers(s) Citi
Deal Type Divestiture
Deal Value 505M USD

Target

Citigroup Global Services

Mumbai, India
Citigroup Global Services, is the global processing centre for all Citi entities. The company provides product driven processing, call centre (inbound & outbound) and technology services to CGSL entities across 50 countries on a 24x7 basis. CGSL operates in the BPO, KPO and LPO service lines.

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Buyer(S) 1

Buyer

TCS

Mumbai, India
Category Company
Founded 1968
Sector Information Technology
Employees469,261
Revenue 2.41T INR (2024)
DESCRIPTION

TCS is a provider of IT and consulting services. TCS was founded in 1968 and is based in Mumbai, India.

DEAL STATS #
Overall 9 of 14
Sector (Information Technology) 5 of 9
Type (Divestiture) 1 of 1
Country (India) 5 of 8
Year (2008) 1 of 1
Size (of disclosed) 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-31 TKS - Teknosoft S.A.

Nyon, Switzerland

TKS - Teknosoft S.A. is a provider of IT services.

Buy $80M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-01 Retail FullServe Limited

Bengaluru, India

Retail FullServe Limited is a provider of information technology services.

Buy $100M

Seller(S) 1

SELLER

Citi

New York, New York, United States
Category Company
Founded 1812
Sector Financial Services
Employees237,000
Revenue 78.5B USD (2023)
DESCRIPTION

Citi is a global diversified financial services holding company, whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Citi was incorporated in 1812 and is based in New York City.

DEAL STATS #
Overall 7 of 19
Sector (Information Technology) 1 of 2
Type (Divestiture) 7 of 16
Country (India) 1 of 2
Year (2008) 4 of 5
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-11 Citibank Privatkunden AG KGaA

Dusseldorf,, Germany

Citibank Privatkunden AG & Co. KGaA, provides personal and business banking services to corporations, government agencies, financial institutions, and individual consumers in Germany.

Sell €4.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-23 Citi Technology Services

Mumbai,, India

Citi Technology Services, a provider of information technology services and solutions to Citi entities worldwide.

Sell $127M
Mergr

Product

Company

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