Tata Consultancy Services will acquire 100 per cent stake in Postbank Systems AG (PBS) from Deutsche Bank AG.
PBS is the full-range captive IT service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank. PBS and its around 1,500 employees will become part of TCS.
“We are pleased to deepen our long-standing partnership with Deutsche Bank, continue to help accelerate their digital transformation, and to acquire market specific capabilities in the banking domain,” said NG Subramaniam, Chief Operating Officer and Executive Director, TCS.
“As part of our move to one technology organisation, we are consolidating the IT platform for our retail banking brand Postbank into the Deutsche Bank platform,” said Bernd Leukert, Chief Technology, Data and Innovation Officer, Deutsche Bank.