TCS to acquire Postbank Systems from Deutsche Bank

By Megha Bhattacharya

Tata Consultancy Services (TCS) announced an agreement with Deutsche Bank AG for acquiring 100% of the shares of Postbank Systems AG (PBS) from Deutsche Bank AG. PBS and its 1,500 (approx.) employees will become part of TCS, thus expanding the latter’s scale in Germany.

Postbank Systems is an IT service provider that offers project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank.

“We are pleased to deepen our long-standing partnership with Deutsche Bank, continue to help accelerate their digital transformation, and to acquire market-specific capabilities in the banking domain,” said N G Subramaniam, Chief Operating Officer and Executive Director, TCS. “We warmly welcome Postbank Systems’ IT professionals into the TCS family, and invite them to avail of the learning and development opportunities here, and help script the next chapter of TCS’ growth in Germany.”

The transaction for the acquisition is expected to be finalised by 2020 end and is subject to customary regulatory and governmental approvals.

Recently, TCS announced that it will be implementing the Wallets and Rewards solution from Quartz – The Smart Ledgers at UK-based startup Zapaygo in a bid to boost its pre-order mobile ordering and payment platform designed for the entertainment, hospitality and leisure industry. The company’s hybrid blockchain platform will be providing wallet services to Zapaygo’s customers through tokens managed on the public blockchain and leverage a private permissioned network for rewards program management.

“As part of our move to one technology organisation, we are consolidating the IT platform for our retail banking brand Postbank into the Deutsche Bank platform,” said Bernd Leukert, Chief Technology, Data and Innovation Officer, Deutsche Bank. “TCS is already a trusted IT service partner for Deutsche Bank and this strengthens our relationship further. We are confident that TCS is the ideal owner for Postbank Systems. With this transaction, we agreed on a structure that meets all parties’ interests. It provides clarity to Postbank Systems staff and the opportunity to become part of the success and growth story of TCS.”