TCS to buy tech startup 'Computational Research Labs' for $34 million

The country's top software exporter Tata Consultnacy Services (TCS) said it was acquiring Computational Research Laboratories (CRL), a fully owned subsidary of Tata Sons in high end computing, for Rs 188 crore or $ 34 million.

"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.

High performance computing (HPC) is finding increasing relevance and use among large enterprises as they look to solve complex business problems like reducing time to market, the company said in a statement to the Bombay Stock Exchange.

This is driving an increase in adoption of HPC-based applications for modelling, simulations, visualisation and big data analysis across the business it said. TCS' customers across multiple industries, including automotive, aeropsace and energy are investing in the use of HPC applications and services, the company added in its announcement after market hours.

Shares of TCS were marginally down to Rs 1262.80 at close on BSE on Thursday.