Tata Consultancy Services, India's top software services exporter, said it agreed to buy Computational Research Laboratories (CRL), a start-up group company, for Rs 188 crore.
TCS is planning to buy CRL, a fully owned subsidiary of Tata Sons
TCS, which is a part of India's diversified Tata group, said the deal to acquire CRL, also owned by the Tatas, would boost its cloud computing services.
"CRL's core capabilities in designing and building high performance environments coupled with our strong focus on cloud-based, domain-rich industry platforms makes TCS very relevant to address customers' growing requirement of high performance computing applications," said TCS CEO and MD, N Chandrasekaran.
Shares of TCS were marginally down to Rs 1262.80 at close on BSE on Thursday.