New Delhi: Country's largest software services firm Tata Consultancy Services (TCS) on Thursday said it will acquire Pune-based Computational Research Laboratories (CRL) for Rs 188 crore in an all-cash deal.

TCS has entered into a definitive agreement to acquire 100 percent equity of CRL, a wholly-owned subsidiary of Tata Sons, for a cash consideration of Rs 188 crore (USD 34 million), TCS said in a statement.

The acquisition will enable TCS to expand its suite of solutions and offer integrated High Performance Computing (HPC) application and cloud services to its large base of customers, it added.

HPC applications are finding increasing relevance and use among large enterprises as they look to solve complex business problems like reducing their time-to-market.

This is driving adoption of HPC-based applications for modeling, simulations, visualisation and big data analysis across businesses.

TCS' global base of customers in sectors like automotive, aerospace, and energy are investing in the use of HPC applications and services.

CRL's core strength in creating and managing HPC environments will enrich TCS capabilities in infrastructure management, engineering and industrial services and strengthens the focus on creating cloud based industry platforms, the statement said.

"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 the customers' growing requirement of HPC applications," TCS MD and CEO N Chandrasekaran said.

(Agencies)

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