TCS Acquires Coastal Cloud for $700M

Tata Consultancy Services (TCS) is buying Coastal Cloud, a company that helps businesses use Salesforce, for $700 million.

This is TCS's biggest buyout since it became a public company.

Coastal Cloud has about 400 employees and made $132 million in revenue last year.

TCS plans to finish the deal by the end of January next year.

This purchase will help TCS become one of the top five Salesforce advisory firms in the world.

TCS is also investing a lot in data centers and has recently bought another company called ListEngage.

The CEO of TCS didn't make a statement about this deal, but the Chief Operating Officer said it's a big step for TCS's plans to use more artificial intelligence.