TCS in race to acquire Deutsche Bank’s IT unit
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TCS in race to acquire Deutsche Bank’s IT unit

By Reuters

  • 22 Oct 2020
TCS in race to acquire Deutsche Bank’s IT unit
Credit: 123RF.com

Germany's Deutsche Bank is in talks to sell IT services division Postbank Systems, people with knowledge of the matter said on Thursday.

A potential buyer is India's Tata Consultancy Services, the people said.

Postbank Systems has around 1,400 employees, mainly in the German city of Bonn. A sale would help Deutsche reach its goal of shedding 18,000 staff overall to cut costs and restore profitability.

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Bloomberg News first reported the development.

Deutsche Bank and TCS declined to comment.

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