Tata Consultancy Services (TCS), a leading global IT services business, has this morning announced that it will acquire Pramerica in Letterkenny with over 1,500 Pramerica staff transferring to TCS. This will help TCS to create a new Global Delivery Centre here in Ireland that will provide a range of digital services to customers in Ireland, Europe and the US.
TCS has a long history in Ireland having first established operations here in 2001.
As part of TCS’ new Global Delivery Centre in Ireland, they will continue to provide PFI with a range of business, digital and technology services, while also expanding TCS nearshore capabilities to provide the multifunctional, digital services and solutions to other customers in Ireland, the UK, Europe and the US.
“Ireland is uniquely positioned to play a leading role in the digital economy and this key investment significantly strengthens our ability to provide nearshore services and meet the growth and transformation needs of our customers globally,” said K. Krithivasan, President, TCS Banking, Financial Services and Insurance. “We warmly welcome Pramerica’s employees into the TCS family. We are confident they will avail the immense career growth opportunities that TCS offers, and fully realise their potential.”
Stacey Goodman, Chief Information Officer of PFI, commented, “We are incredibly proud of the organisation our colleagues in Letterkenny have built and evolved over the past two decades and excited for Pramerica’s next chapter together with TCS and in partnership with PFI. This transaction is truly a win for everyone involved, advancing PFI’s ongoing transformation process as well as TCS’ strategic goals, while also providing exciting growth opportunities for Pramerica Ireland employees and the Letterkenny region.”
PFI will retain the Pramerica Ireland entity, which will continue to operate from Letterkenny, and will focus on providing regional business services, reporting under its global asset manager, PGIM.
TCS has been partnering with the world’s leading banks, financial services, and insurance institutions in their growth and transformation initiatives for over four decades.
The transaction is subject to completion of customary regulatory approvals.
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