Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, on Wednesday announced the acquisition of BridgePoint Group, LLC, a US management consulting firm catering to the financial services industry, and specializing in retirement services, through the purchase of select company assets.
This acquisition augments TCS’ financial services and insurance domain knowledge, particularly in the area of US retirement services, where BridgePoint’s team of experts currently provide strategic insights and advisory services around growth, business agility, customer experience and technical transformation.
TCS currently partners with eight of the top 10 US Banking, Financial Services and Insurance institutions, and offers retirement services across the globe.
BridgePoint’s entire management team and key experts will join TCS. Their deep customer relationships and significant industry knowledge adds to TCS’ ability to provide digital solutions that enhance sponsor and participant experience, and drive Business 4.0 transformations in the $1 trillion US retirement services market, TCS said in a press release.
TCS president and global head, BFSI platform Suresh Muthuswami said, “The US retirement business is complex, so Bridge Point’s deep industry expertise and team of highly experienced consultants will enable TCS to develop a robust customer-focused retirement services business.”
“This move underscores our long-term commitment to IT industry, enhancing our ability to provide end-to-end engagements, from strategic consulting to servicing of retirement assets. We welcome the BridgePoint team to TCS,” Muthuswami added.
“We are very excited about this transaction, being one that brings benefits to all parties,” said Barbara March, CEO, BridgePoint. “Our customers require access to new and innovative solutions, capitalizing 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.”