TCS completes acquisition of GE’s stake in TCS Saudi Arabia

IT major Tata Consultancy Services (TCS) on Thursday said it has completed the acquisition of GE’s stake in Tata Consultancy Services Saudi Arabia. In January this year, TCS NSE -0.59 % had said it will acquire GE’s stake in Tata Consultancy Services Saudi Arabia for USD 12,471 (about Rs 9.13 lakh).

“The acquisition was to be completed within 3-6 months…acquisition of GE’s stake in Tata Consultancy Services Saudi Arabia has been completed on May 26, 2021,” TCS said in a regulatory filing on Thursday.

In September 2013, TCS had announced the creation of an all-women business process services centre in Riyadh (Saudi Arabia) in partnership with GE.