TCS Acquires BridgePoint, An US-based Company

On Wednesday, India’s largest IT services company, Tata Consultancy Services Ltd (TCS) made an announcement on its acquisition of BridgePoint, an US-based management consulting firm specialized in retirement services. The acquisition cost remains unknown. The company's aim is to acquire expertise in the US retirement services and financial services industry.

“Through this acquisition, and with insights and advisory services around customer experience, business agility, technical transformation and growth provided by BridgePoint, our insurance domain knowledge and financial services in the US retirement services can be heightened,” in a statement released by the IT company. TCS with $19 billion value has been working with eight out of ten in the top ten list of US insurance institutions, financial services, and banking. The company provides retirement services across the globe.

In the same statement, the global head of TCS, Suresh Muthuswami also mentioned that because of the complexity of the US retirement business, through BridgePoint’s consultants and expertise, TCS will be developing a friendly customer-oriented retirement services business.

The whole management team, as well as crucial experts from BridgePoint, will join TCS. The company’s important industry knowledge and customer relationships will undoubtedly enhance its partner’s capability to offer enhancing sponsor and participant experience digital solutions. This will help boost Business 4.0 transformations in the US retirement services market with a value of $1 trillion.

The company’s ability to provide engagements, in both retirement assets services and strategic consulting will also be enhanced. BridgePoint’s Chief Executive Officer, Barbara March said that: “We are extremely excited about this transaction which will benefit both parties. With our knowledge of the industry’s complexity, together with TCS’ expertise in enabling digital transformations, our customers can gain access to innovation and new solutions. TCS also offers a services portfolio which will provide retirement providers across the US superior service and growth potential.”