Tata Consultancy Services, the country’s largest software exporter, has signed a definitive agreement to acquire Pune-based start-up Computational Research Laboratories (CRL) for Rs 188 crore ($34 million).
CRL, a wholly-owned subsidiary of Tata group’s holding company Tata Sons, is into high performance computing (HPC) solutions. TCS would acquire the entire stake, the IT major said in a statement.
“CRL’s core capabilities in designing and building high-performance environments, coupled with our strong focus on cloud-based, domain-rich industry platforms makes TCS very relevant to address the customers’ growing requirement of HPC applications,” TCS Managing Director and Chief Executive Officer N. Chandrasekaran said.
CRL, which had developed Tata group’s supercomputer Eka, has about 80 employees who will be inducted into TCS after the acquisition, a company official said. However, the time frame for the completion of the acquisition was not disclosed. for complete story see here