Tata Consultancy Services is to acquire the staff and select assets of Prudential's Irish IT subsidiary Pramerica Systems Ireland.
The deal builds on a long relationship between the two organisations and will see over 1,500 of Pramerica’s staff in Ireland transfer to TCS.
TCS intends to build a new Global Delivery Centre in the Letterkenny region, providing PFI with a range of business, digital and technology services, while also expanding TCS nearshore capabilities to service other customers in Ireland, the UK, Europe and the US.
“Ireland is uniquely positioned to play a leading role in the digital economy," says K Krithivasan, president - Banking, Financial Services and Insurance, TCS. "This key investment deepens our relationship with PFI and gives us a new delivery capability in Ireland with specialised expertise, that significantly strengthens our ability to meet the growth and transformation needs of our customers globally.”
Under the agreement, 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.
Sourced from Finextra