TCS completes acquisition of GE stake in Tata Consultancy Services Saudi Arabia

TCS had announced the creation of an all-women business service centre in Riyadh in September 2013, in partnership with GE.

May 28, 2021 02:05 IST India Infoline News Service

Tata Consultancy Services
IT-giant Tata Consultancy Services (TCS) has completed the acquisition of GE's stake in Tata Consultancy Services Saudi Arabia.

Earlier in January this year, the company and GE signed a definitive agreement for the transfer of GE's stake in first of its kind All-Women Business Process Services Cente (TCS Saudi Arabia) in Riyadh to TCS.

With the completion of the deal, the Tata Group-backed company has taken full responsibility for the Women's Center, securing its viability in the long term and allowing it to continue to serve as a source of opportunity and skills development for women in the country.

TCS had announced the creation of an all-women business service centre in Riyadh in September 2013, in partnership with GE.

At around 2.45 PM, TCS was trading at Rs3145.50 per piece down by Rs34.70 or 1.09% on Sensex. The stock has tumbled to an intraday low of Rs3137 per piece on the index. 

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