TCS acquires US-based management consultancy BridgePoint Group

Indian IT services giant has continued its flurry of activity in the US, this time through the strategic acquisition of a management consulting firm by the name of BridgePoint Group. Financial details for the acquisition of the Georgia-based financial services firm have not been made public. 

Over the last five years, TCS has grown rapidly in nearly every aspect. In terms of services, the firm has made concerted efforts to enter the rapidly expanding digital services market across the globe. Financially, the firm became one of the few Indian firms to surpass the $100 billion mark in market capitalisation this year.

The firm has also been rapidly expanding in the geographical scope of its services, having won major contracts across the US and Australia and having consolidated its presence in France. In the US, the firm has grown into the 58th most valuable brand in the country, and has accumulated a considerable amount of legitimacy.

Interestingly, TCS’ has been dictated by a strategy that laid emphasis on organic means of growth only, a strategy that now appears to be changing. The firm acquired London-based  design agency W12 Studios last month, and has now acquired a US-based firm by the name of BridgePoint Group.

Based in Georgia, BridgePoint offers a wide variety of services, spanning financial services, retirement services and commercial & banking services. As a result, the firm’s clientele primarily hails from the banking and financial services sector, an area where TCS has been particularly active in the US market.

TCS is currently handling a major contract with insurance firm Transamerica, wherein it manages the insurance firm’s insurance and annuities divisions. Given BridgePoint’s existing base of clients in the US, the acquisition is set to help the firm rapidly expand its operations in the country. 

Commenting on the acquisition, President & Global Head of TCS’ BFSI division Suresh Muthuswami said, “The US retirement business is complex, so BridgePoint’s deep industry expertise and team of highly experienced consultants will enable TCS to develop a robust customer-focused retirement services business.”

CEO at BridgePoint Barbara March added, “Our customers require access to new and innovative solutions, capitalising on both BridgePoint’s broad understanding of the industry’s complexities and TCS’ expertise in enabling digital transformations. The portfolio of services offered by TCS will offer growth potential and superior service to retirement providers across the US.”