Bengaluru, Dec. 10 -- Tata Consultancy Services (TCS) on Wednesday made its largest buyout since going public in 2004, agreeing to acquire technology consulting firm Coastal Cloud for $700 million in cash.

Significantly, the buyout comes less than three months after India's largest IT services firm stated it would invest $6.5 billion over six years to build 1GW of data centre capacity, underscoring a new effort by the firm to explore new business segments. Last month, US private equity giant TPG agreed to invest $1 billion to acquire a 49% stake in the data centre business.

"This acquisition marks a pivotal milestone in advancing our global Salesforce capabilities and accelerating our AI-led transformation agenda," said chief operating ...