Country’s largest IT services firm Tata Consultancy Services (TCS) made its largest buyout since going public in 2004. They are set to acquire technology consulting firm Coastal Cloud for $700 million in cash.

The buyout is important because it comes less than three months after India’s largest IT services company announced a plan to invest $6.5 billion over six years to build 1GW of data centre capacity. This shows the firm is trying to expand into new business areas.

Last month, the US private equity firm TPG agreed to invest $1 billion to buy a 49% stake in the company’s data centre business.

What TCS said

“This acquisition marks a pivotal milestone in advancing our global Salesforce capabilities and accelerating our AI-led transformation agenda,” said chief operating officer Aarthi

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