Tata Consultancy Services has entered into a definitive agreement to acquire 100% equity of Computational Research Laboratories for a cash consideration of Rs 188 crore.
Computational Research Laboratories (CRL) is a wholly owned subsidiary of Tata Sons. The acquisition of CRL, a pioneering start-up firm in the arena of High Performance Computing solutions in India, will enable TCS to extend its suite of solutions and offer integrated High Performance Computing (HPC) application and Cloud services to its large base of customers
HPC applications are finding increasing relevance and use among large enterprises, as they look to solve complex business problems like reducing their time-to-market. This is driving an increase in adoption of HPC based applications for modeling, simulations, visualization and big data analysis across the business
TCS' global base of customers across multiple industries including automotive, aerospace, and energy are investing in the use of HPC applications and services. CRL's core strength in creating and managing HPC environments enriches TCS capabilities in Infrastructure Management, Engineering and Industrial Services and strengthens the focus on creating cloud based industry platforms, TCS said in a statement.
TCS is an IT services, consulting and business solutions organisation. It offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. A part of the Tata Group, India's largest industrial conglomerate, TCS has over 243,000 consultants in 42 countries. TCS' consolidated net profit rose 15% to Rs 3317.68 crore on 12% growth in sales to Rs 14868.71 crore in first quarter ended June 2012 over fourth quarter ended March 2012.