Tata snags Chile outsource firm

Tata Consultancy Services has acquired Comicrom, a privately held financial-services outsourcing firm in Chile, for $23 million.

Tata Consultancy Services announced Tuesday that it has acquired Comicrom, a privately held financial-services outsourcing firm in Chile, for $23 million. Comicrom has about 1,250 employees and has 57 percent market share of the check-processing business in Chile, India-based Tata said. The acquisition is designed to help the company boost its outsourcing business in Latin America, Tata said.

Tata is also setting up a global delivery center in Sao Paulo, Brazil, to execute the deal it recently signed with ABN Amro.

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