Tata Consultancy Services Ltd (TCS), the Tata Group arm that is Asia’s largest software exporter is in talks to buy out the tech service of Deutsche Bank AG. With the imminent reduction of 1400 employees, the entity is on target for its down-sizing target.

People in the know read this as the pandemic effect where FinServ companies and banks are shedding their inhouse tech departments.

Tata Consultancy, part of the Tata Conglomerate has an excess of 450,000 employees worldwide and had in 2008 acquired Citigroup Inc.’s back-office unit in what was then the entity’s biggest acquisition.