Wednesday, Mar 10, 2004
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By Our Staff Correspondent
CHENNAI, MARCH 9. Tata Consultancy Services (TCS) has acquired Aviation Software Development Consultancy India Ltd (ASDC), a company focused on providing consultancy and solutions to the aviation industry. The acquisition of ASDC, which was a joint venture between the Tata group and Singapore Airlines (SIA), was completed with the purchase of residual 51 per cent stake from Singapore Airlines through a cash deal of Rs. 14.02 crores paid by Tata Sons to Singapore Airlines. The Chennai based ASDC was set up in 1996 primarily to provide SIA with specialised skills for the development and maintenance of airline related software applications. The company also provides IT services and solutions to other airlines and aviation-related companies. Prior to the acquisition, TCS held 49 per cent stake through Tata Sons and Tata industries in the company.
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