Monday, October 24, 2005

Tata Consultancy Services (TCS) has acquired Financial Network Services (FNS), a Sydney, Australia-based banking solution provider for around USD 26 million. The deal is expected to strengthen the banking and financial services division of TCS along with increasing its global customer base. FNS' Core Banking Solution has been installed in over 115 banks spread over 35 countries and its clients include Tier I and Tier II banks in emerging markets in Europe, Asia, Australia and Africa.

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